Hello, I am taking over my parents trust and new to the mineral business. Is there any value in the Oklahoma Mineral Owner Registry while I settle their estate? It appears they were registered at one time. Thank you
I did not find it useful in settling my mother's estate. The ultimate data is at the county courthouse for each county. Others may have a different opinion.
I'm kind of in the same position as you. I looked at the Registry but it didn't seem like there was much value in joining it. As M Barnes has said, most information comes from the County Clerks Office. They have the Mineral Deeds information and lease information. Some of it can be accessed online but if the deeds/leases are older you have to call the clerk's office. I'm in the process of doing that now and it's pretty slow work since the clerks seem to be busy and it takes them a while to go through the records. I did call the Oklahoma Corporation Commission, Oil & Gas Division and they were able to tell me about wells on our sections and who the operators are (oil companies operating the wells).
Send me a friend request if you need help. Blue icon to the upper left. Just went through this.
Blaine County is extremely busy in the courthouse and I can understand how it would take a while to obtain information from the clerks. There are many competent Landmen that are starving for work in this downturn. Most Landmen, will have access to online courthouse records and well information as well as having the ability to travel to the courthouse for research. Obviously this isnt free but depending on the level of information you need, running title for an individual isnt that time consuming and might be worth hiring someone to help.
In defense of the Blaine County Clerk, They are very busy right now. There may be 20 landmen waiting at the door at 10 til 8 in the morning to get in and find a place to work. Work space is at a premium. The clerks may not have the time to be able to give you much needed help. Making sure you have your correct legals is very important. I know how to do the search but don't think my boss the Assessor would take it very well.
Check with an attorney or CPA
Thank all of you for your responses.
For the value of the holding, to try to get an appraisal for my father's VA package, is the value on the working interest of the underlying value of the mineral right? I think it's called working interest v. a passive royalty income.