What Happens After You Sell to Oil and Gas Royalty Buyers?
There’s a lot of information out there about what to do before you sell to oil and gas royalty buyers, a lot of articles on red flags, benefits, paperwork, and other information that is all helpful to know. But what happens after you sell to oil and gas royalty buyers?
If you currently live on the land or are using some or all of the surface rights, you might have a special interest in the future of that land and its resources. Of course, every decision to sell or not sell has implications unique to each situation, but we like to believe that we’re transparent, open, and informative at all steps in our process – that’s the Clear Fork Royalty way!
Contact After You Sell to Oil and Gas Royalty Buyers:
After your sale, you shouldn’t suddenly lose any connection, contact or support from your oil and gas royalty buyer, in fact, it’s a good idea to ask them about their ‘post-care’ process. Hopefully, your company or partners will continue to be willing to answer questions in a knowledgeable and friendly way and be there for you even after ‘the deal is done’.
Good customer care and service aren’t only given when it’s profitable to the company – true care and service includes being there for the client even after the paperwork is signed and the ink dry.
Oil and Gas Royalty Sale Lump-Sum Taxes:
One of the most common questions that many oil and gas royalty buyers get comes well after the sale – and it’s about one of life’s absolutes – taxes. Getting a lump sum from your oil and gas sale can change your taxes considerably, raising or lowering your bracket or responsibilities, depending on your pre-sale royalties and tax rates.
Though most oil and gas royalty buyers are not also CPAs or tax experts, they have been through this process many times and should be willing to either point you in the right direction, or link you up with one of their tax partners who can make sure all the changes go through smoothly and you understand your tax responsibilities.
If you work with a less-reputable company who leaves you high and dry after the oil and gas royalty sale, you might be left scratching your head about taxes come April. Work with a reputable, awarded, and tested company with the type of reputation you can trust – a company like Clear Fork Royalty!
Understand Post-Sale Uses & Surface Rights:
This area may only apply to some, such as those who are living on the property that is yielding the oil and gas royalties, but it’s still a special stipulation and something you should understand before you sell, so you are prepared for what will happen after that sale.
Possibly the sale will change nothing, or maybe there will be a larger extraction development needed on the property – make sure you understand the allowed uses of the land so it will not impact your life. It’s also possible that you’ve been living with extraction developments on your land for some time, and this could change too depending on your sale, contract, and the company that will ultimately end up with your mineral rights.
For many, this is never an issue, however, we would rather you be overprepared than underprepared, so make sure you understand the full extent of what will happen after your sale by talking to your oil and gas royalty buyers well before the contract is finalized.
If Working with a Trusted and Transparent Oil and Gas Royalty Buyer Sounds Like Your Next Step – Contact Clear Fork Today!
We happily and quickly give free, no-obligation offers on your mineral rights, so you can have all the information up front before you ever seriously consider selling.
To receive an offer from the best oil and gas mineral buyers in Texas, fill out our form here. And remember, we aren’t happy with your offer unless you are!