You own the rights to any minerals that are found under the land that you own. Your rights to these minerals causes any company that wants them to have to pay royalties to you or whoever you pass the rights onto throughout the course of the mining process. However, not everyone wants to keep their mineral rights, even though they are able to receive money regularly as a result of them. Here are three reasons why you might want to consider selling your mineral rights.

1. You Can Get a Larger Lump Sum

If you have a major purchase that you need to make, such as a down payment for a location for your new business, a child's college tuition, or large medical bills, then you might want to consider getting a lump sum for your mineral rights, rather than waiting for the trickle of money that would come from your royalties. Sometimes, having money up front is more helpful than earning money more slowly over a longer period of time, even if you would earn more money in this fashion. 

2. You Don't Have to Fill Out as Much Paperwork

Having mineral rights can require a lot of paperwork between you and the company that wants the minerals under your property, as well as between you and the US government. Mineral rights royalties are a form of income and you will have to account for that income when you are doing your taxes. This can complicate your taxes and even force you to have to pay the US government money during tax season, rather than allowing you to receive a refund. If you sell your mineral rights, you won't have to deal with this onslaught of paperwork.

3. You Get Rid of Depreciating Assets

Every year the minerals are mined is a year that your mineral rights decline, because as minerals are taken out of the earth, the less there are to be found. Your mineral rights are going to continue to decrease in value until all of the minerals are gone and the rights are worth nothing at all. If you want to gamble, you can get out early and possibly get more money for your rights than you would have in the long run.

For more information about selling your mineral rights and negotiating with buyers, contact a company like The Mineral Auction. They can help you determine whether selling your rights is a good choice in your situation.