ND mineral leases- Mountrail County. 1) Would you tell me if $250acre-5 years; 17%

Answer 1

You didn't mention the legal description of the tract that you received offers on  but $600 per acre to sell is probably too cheap depending on where they are in the county as they are not worth much in the Eastern part but worth $1200 to $2500 at least in the Western part and a small area worth a lot more. You can hire a landman to do a title search but they are charging minimum of $500 per day plus expenses. If someone owns but doesn't lease it will be force pooled and the monies placed in suspense. The mineral interest can be deemed abandoned after 20 years if a claim of interest or other document is not filed and the surface owner can go to court to claim them.

I buy mineral rights in all Western counties of North Dakota, email at my email address below if you are thinking of selling and I'll make an offer.

Tim Metz

Nationwide mineral rights buyer

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