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  1. #1
    Join Date
    Jan 2011
    Location
    Texas
    Posts
    2

    Default How to Buy Partial Ownership of Land and Mineral Rights

    My question involves real estate located in the State of: Texas

    Situation:
    1) Grandparents owned ranch land, died and land went to 4 sons (1 being my father)
    2) 3 of 4 brothers died and ownership now to: 1 original brother (uncle), 2 sister-in-laws (1 aunt and my mother), 6 cousins

    I would like to buy the land rights from all 6 cousins but likely only 4-5 will sell. I would also like to buy mineral rights but maybe only 3 will sell mineral rights.

    Can I buy partial land and mineral rights in the State of Texas? If so, who would do the paper work, attorney, title company? If I pay cash can I avoid having the property surveyed and just have the land deed changed?

    One other possible complication. There is actually 7 cousins, but one was...unexpected, out of wedlock and not associated with 6 cousins. Supposedly she signed away her rights to the estate left to the 6 cousins. I would think a copy of the papers are required to verify legitimacy. Ya, it's a real soap opera.

    I am definitely looking for the cheapest option, but I must do it right.
    Thanks,
    VinnieV

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: How to Buy Partial Ownership of Land and Mineral Rights

    You can buy whatever rights they are willing to sell to you. I suggest having a real estate lawyer draft up the contract of sale and deeds. I would not suggest trying to commit tax fraud.

  3. #3
    Join Date
    Jan 2011
    Location
    Texas
    Posts
    2

    Default Re: How to Buy Partial Ownership of Land and Mineral Rights

    Hmmm. I don't see where I suggested that I wanted to commit tax fraud.

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