Transferring my mineral rights to my son?
i purched my house years ago before the mineral rights were worth anything,now in the last year they have figured out how to get the gas in barnett shall.my mortgage states something about this being my primary residence/?not a rent house,but nothing about mineral rights.i would just like to tansfer the mineral rights to him,for the future and to help him pay for medical school…just incase something ever happened to me.i guess i just am wondering with the mortgage if it can be seperated.
August 4th, 2009 at 4:36 pm
Most states permit the conveyance of the mineral rights by a deed. The mortgage company may want a release for the rights; depends on the state or the company; you may also make the deed subject to the payoff of the mortgage and release them to him later free of the mortgage when it’s paid out.