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posted Jun 4, 2019 8:36:18 PM

Are mineral rights considered "real" or "tangible" personal property?

I do not own the land, just the mineral rights.  I am asking b/c I have sold the rights and need to know if that qualifies for the Oklahoma capital gain "Exclusion from income".  I have had the rights for 20 years.

Thank you!

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1 Replies
Alumni
Jun 4, 2019 8:36:51 PM

That is really more of a legal question than a tax question. However, since mineral rights are a severed portion of the land rights themselves (they're separated from the land's "surface rights" and sold separately by deed, just like the land itself), they are usually considered real property.