Mid-Continent Energy Exchange

Kalkaska, MI Sec 11-28N-7W

Lot Number:5520.29

Quantity:1

Buy Now:$27,576.00

Details
Documents

This is a line item from the Michigan Basin Mineral Estate PICK YOUR TRACT list. Additional information and a list of all tracts being sold is available in BidEx Auction Lot 5520.

122.56 Net Mineral Acres (129.28 Gross Acres) in Section 11, Township 28N, Range 7W in Kalkaska County, Michigan.

Known for its Niagaran formation which is one of the most prolific oil formations in Michigan. These minerals have been leased in the past for $1,000.00 per net acre.

All minerals are perpetual and include all formations.

There is no cost whatsoever in owning minerals in Michigan. No property taxes, etc. Also, there is no Michigan Income Tax on Royalty Income. Severance Tax is in lieu of Michigan Income tax on royalty.

Fixed Price $225/NMA.

MCEE will file the Mineral Deed for the winning bidder. The recording fee is $120.00 and will be added to the invoice.

This is a Buy-It-Now auction with one lot available for immediate purchase. To purchase this lot, click on 'Buy Now' and click 'Buy'. The total amount will be shown. Click 'Buy Now' to complete the purchase. An invoice will automatically be sent immediately following the sale.

County:Kalkaska

State:MI

Acres:122.56 (NMA) 129.28 Gross)

Legal Description:SW/4, EXCEPT parcel of land described as: Commencing at S/4 corner of said Section 11 which is P.O.B.; thence N 89 deg 59’32” W, along South Section line, 661.52 feet; thence N 00 deg 25’53” E, 1658.67 feet; thence N 89 deg 59’06” E, 662.58 feet to N-S/4 line; thence S 00 deg 28’05” W, along N-S/4 line, 1658.97 feet back to P.O.B. FURTHER EXCEPT parcel of land described as: Commencing at Southwest corner of said Section 11; thence N 89 deg 59’32” W, along South Section line, 81.02 feet to Easterly right-of-way line of Highway US-131; thence N 19 deg 26’43” E, along said right-of-way line, 1054.96 feet to P.O.B.; thence continuing N 19 deg 26’43” E, along said right-of-way line, 703.38 feet; thence N 89 deg 59’06” E, 336.80 feet; thence N 00 deg 22’35” E, 663.28 feet; thence N 89 deg 59’51” E, 566.60 feet back to P.O.B. in Sec 11-28N-7W.

Lot Summary 5520- 29.pdf