Keep those mineral rights in the family

SALEM, Ohio — With 30 years experience navigating the minefields of mineral rights and real estate, Monroe County attorney Richard A. Yoss often advises his clients not sell the mineral rights for any reason.

But he does often suggest families transfer those mineral rights to another vehicle.

Yoss counsels some clients to create a limited liability company that will hold the mineral rights. That way, the land can be transferred in the future, but the family always owns the mineral rights and therefore the royalties can be distributed through the LLC.

The gas wells being drilled through the Marcellus and Utica shale are expected to produce as long as 70 years, according to estimates by Range and Chesapeake, which means they could provide income for a family for a couple of generations.

He said if creating a limited liability corporation does not appeal to a family, then there could be other avenues in which to transfer the mineral rights.

To read whether you should consider selling your mineral rights, or hang on to them, click on the links.

About the Author

Kristy Foster Seachrist lives in Columbiana County raising sheep and horses. She earned her degree from Youngstown State University and has worked in both print and broadcast journalism. You can follow her on Twitter at More Stories by Kristy Foster Seachrist

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