Antelope Gas and Energy in Oklahoma made an offer to buy two of my mineral properties in Caddo County, Oklahoma. Antelope send a deed, which I notarized, signed, and returned promptly. I was promised I would receive payment within 45 banking days. After not hearing from them for 2 months, I called and was assured the deal was still on. Two more months passed with nothing. I called today and learned they had backed out of buying. My first question is - can they legally do this? Second, is there some risk to me if they keep the deed and attempt to find a buyer. The landman offered to send the deed back to me. Thank you for any help you might offer in this situation. Martha Burleson
You have been “flipped”! Never hand over a deed without money in hand. Antelope is a broker that tried to sell your acreage before they paid for it. Get your deed back and report them to the BBB. There is no recourse short of a lawsuit & that will probably get you nothing but legal fees.
Nothing they did was illegal unfortunately. You would have to had some sort of contract stating if they back out, you get something from it. Just ask that they send that deed back to you. It happens all the time in this business. Since they didn’t file it, it’s not in records and doesn’t affect your ownership.
Request for your deed back by certified return receipt mail so that you know that the land man received the notice. Next time, do not hand over a deed (or a lease) without getting paid.
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Thank you, M Barnes, for your most helpful advice. I spoke to the land man this morning, and my deed is now in the mail back to me. Next time, I may check with Mineral Rights Forum before I do anything.
Sincerely, Martha Burleson
Thank you, Cole , for responding to my questions. Your advice, along with a couple of others, was very helpful to me. I spoke to the land man this morning, and he is mailing my deed back to me.
With much appreciation, Martha Burleson
Todd, Thank you so much for your help and for clarifying what actually happened. As a novice, I had no idea that a company would not pay once they had a notarized deed. That had never happened in any of the sales my husband and I made in the past several years. Anyway, it’s a good learning experience and one I won’t forget. I spoke to the land man this morning, and he was going to get the deed in the mail to me today. Again, thank you.
With much appreciation, Martha Burleson
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