Rent is still due on the 1st, late fee on the 5th, eviction starts on the 10th.Wife of 20 years left you for a pot-smoking, unemployed 21-year-old neighbor living in his parents basement (true story, not mine)? Rent

Water has LOTS of minerals in it, lime etc.

The sellers (gas company) want to retain the mineral rights and the universal pipeland easement.

Yes that's real estate.Now if he only owns the equipment and leases the land he still may be able to 1031 depending on how he owns the rights to the minerals.  

Might be 20 acres sine he's in Texas.Forgot to mention mineral/oil rights which are not insured in Texas with title insurance or may not go with title. 

Working in the oilfield patch, doing title and mineral search, i can find my way around the courthouse and have not had a problem rooting out problems.  

The city is likely to approve the lot adjustment.I think the obvious terms should be they are purchasing 1000SF for of their property for $X along with mineral, water, and air rights.

@Sue HoughSo, no matter how great the diamond is, with it still rough and me not being a diamond miner, it will be impossible to find someone to cut the diamond and sell off the pieces?

Your options left are OZ's (defer) oil drilling (tax benefits + income) and land conservation easements or mineral rights donations (can be risky but they're very powerful tax advantages).

Sounds like a good business idea on my end of things if I was in that area of the country.I was thinking the exact same thing.. it was not the gold miners who got rich in the Gold Rush's it was the people selling the pots and pans and other tac ..