Having mineral interests without my knowledge have resulted in my late husband's will being entered into OK probate. Previously his share of interests, left by his mother who died intestate, were divided between stepchildren and myself. His will designates me as sole beneficiary. In the interim time, one of his children filed bankruptcy and their share was sold thru the Bankruptcy Court. What and how do I reclaim ownership of this interest? Does the operator have any responsibility? Originally ownership was transferred by Affidavit of Heirship about 2008. Is it fact that the Affidavit becomes legal ownership after 10 years? Thank you for any input. Virginia
1. You need legal help.
2. The bankruptcy of one of the heirs will not affect the ownership of the remaining parties.
3. The affidavit of heirship may result in marketable title in 10 years. But, the affidavit has to be done correctly, which many are not.
Affidavit - in my opinion - has resulted in more bad title than any other conveyance. All minerals need to conveyed with a Mineral Deed just like if it was surface rights. I would do that even if a simple reservation. Millions of dollars are spent to clear title to simple things. Millions of dollars languish in the coffers of the state or held in suspense by oil companies because the correct title cannot be determined.