How do I determine the number of mineral acres in a holding?
I have ten (small, I think) mineral holdings in Noble County (also two in Grady County). I inherited them from my Mother who inherited them from my Grandmother.
It appears upon each of their deaths, the attorneys refiled the old mineral deed - changing the owner 's name to the children of the deceased, but not revising the description of the
location.
As a result, I am unable to determine the specific number of mineral acres I hold in each one. This information is essential for selling them, gifting them, etc.
What are my options? a.) Hire a landman/woman to go to the courthouse? b.) are there people who are able to provide this service by accessing online records? c.) other suggestions?
Ted - Yes you can hire someone to get access to online records and verify the amount you own. There are plenty of options out there but I would recommend finding someone you trust not to over-bill you for the work. On the other hand, if you’re willing to do a little digging yourself, you may be able to contact operators or brokers who leased the lands or drilled on them, and ask if they have your net mineral acres in their records. If you are looking to sell, the buyer would be able to verify your net mineral acre count, but you would want someone you trust to check their title reports and make sure they are right.
Ted- FYI, the legal description does not change upon someone’s death. Only the percentage of ownership in that description changes, provided there are more than 1 heir.
So your legal description is the same as your grandmother’s.
Truer words have never been spoken. Specifically, “This information is essential for selling them, gifting them, etc”.
Countless times each week, people all across America sell their mineral rights unknowing exactly what “volume”, (ie, the number of net mineral acres) that they actually own. In other words, they are leaving it up to the buying party to provide the legal description in a mineral conveyance document (ie, a mineral deed). Does the phrase ‘fox guarding the henhouse come to mind’?
I’m not saying everyone gets taken to the cleaners, I’m simply applauding you for understanding the importance of knowing what it is you own prior to entering into any kind of negotiation regarding selling or leasing.
Another perspective: If one was bequeathed grandad’s antique car collection, would you let a prospective buyer list the make, model, and condition of the cars on the Bill of Sale prior to you having looked over the collection?
Good for you @Ted_Garten for looking into what you own.
Ted - You would get billed hourly/daily, so it just depends on how complex the historical title might be, before and after your family owned the property. It may cost as little as $100-$200 or it could be very expensive. You could call the Noble County courthouse (or even surrounding counties) and ask them if they have a recommendation for a landman that spends time in the courthouse there, some counties keep a name or two on hand for situations like these. Googling “landman for hire” won’t get you anywhere, most likely.