This has a two part question/inquiry (1) I have paid the taxes on these lots in Richland County Twn/Rng/Sect 26N/57E/10 S2S2,NESE Twn/Rng/Sect 26N/57E /15 N2NE, SENE for about 14 years. Is there a law that states after a certain amount of years that the entire property is mine? (2) I have PRP Holdings wanting to negotiate a lease, they are offering $7,800.00 for unstated years, no mention of royalties. So what is a reasonable offer?
If you are paying taxes, then the county is already assuming that you own a percentage of those tracts. There may be other owners also paying their percentage. So no, you cannot get more property without paying the other owners for it. Your ownership is tied to your deeds or probate documents.
Any offer to lease needs to state the royalty, bonus, and number of years. Those are the basic first step. Best to get a good oil and gas attorney to review any offer as the draft lease is usually not in the mineral owner’s favor and needs edits. I tend to go for a higher royalty if the area looks prospective.
I have paid the taxes for all the property myself. Thank you so much for the info for leasing. Have you heard of obtaining a tax deed?
The tax deed is outside my area of expertise.