My sister and I just inherited a few acres and are now being bothered by a company with an offer on them. I am not sure at all where to begin or who I can talk to.
What is the location of your minerals?
McClain County, Oklahoma 3-5n-4w 6 acres or so.
Welcome to the community. Before you make any decisions it is important to understand what you have and what is being offered. For instance, you didn’t mention whether this was an offer to purchase, to lease or something else.
Read up on this topic. Mineral interests in McClain County tend to be valuable.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
Adding to my above comment: I understand that they are trying to quickly have us make a decision likely in their own best interests but we would want to educate ourselves before making any decisions.
This is an offer to purchase the mineral rights from my sister and me. There are some things that it sounds like will complicate making the rights marketable (as I understand it) but the company we spoke with seems eager to take care of those issues and get us to sign as quickly as possible.
Condolences on your loss.
The more someone pressures me to hurry up, the more info I need to find out. Especially is they want to “help” and “fast”.
My advice is to the put the brakes on that conversation about selling until you get your title completely clean . Casillas has multiple wells that they just drilled in that section. The wells had first sales in January of 2022. The royalties from those wells are going to show up in July. They want to buy you out today before you realize that you have more royalties than just the original well. They want the royalties from the new wells.
You need to contact Casillas and tell them that you just inherited and find out what legal documents they need to put you into pay status for the original well and transfer the royalties from your ancestor to you two. Then you will be in pay status for the next three wells. Then you can decide if you wish to sell or not.
Thank you! I will get in contact with Casillas. From the conversations I’ve had, it sounds like the title is a bit of a mess. Is there a resource that you can recommend for me to reach out to for cleaning up the title or would Casillas be the best first bet?
Ask Casillas for their title requirements. This is usually an explanation of how the land records show as the owner. Often it will indicate curative measures that must be taken. Typically a probate.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
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