Good morning all!
We just found out we have mineral rights because one of the heirs brokered a deal to sell them and we just got paperwork in the mail. We are not selling because we haven’t been given enough time to determine what we have or what it’s worth. This same heir has also been receiving all of the royalties for quite a few years. I’ve heard of escrow accounts being used to hold royalties until estates are probated. How do I get that started? How do I get the companies to stop sending the checks to just one heir until we get this all sorted out? Thanks in advance for any advice you can provide.
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You will need to visit with an attorney to get the probate started. You didn’t mention the state, but often a simplified process is involved. You can find attorneys by clicking the Directory button above.
Companies are usually very careful not to pay someone not entitled to the royalties. If one heir is being paid it may be because they can demonstrate a clear “chain of title”. It is not unusual form one side of a family to be able to connect the dots. If they have paid the wrong party, they still have to pay the actual owner. In other words, you don’t need to worry about making them quit paying that other relative.
how to i find an escrow agent - I am located in Texas trying to sell minerals in WV.