We were just advised we are the heirs of Mineral Rights and Royaly transfers for land in Smith Co Ms.
We had a great uncle who had three other siblings (one being our great grandfather) We were contacted by a rep from Renaissance Petroleum in Houston Tx in an effort to obtain the names and addresses of heirs on our great grandfathers side… There were three other siblings of my great uncle and they he is trying to locate all the other heirs.
We have 14 heirs from our great grandfather…not sure how many from the other three of his siblings …
When there are so many to split Mineral Rights what is the process when a company wants to lease these rights? Does every heir have to agree or is each heir contacted separately ?
In addition, at what point do we transfer the Mineral Rights and Royalty Transfers to our names ? And how do we go about tat .
Please correct me if I am in the wrong forum.
Thank you in advance for your input.
It is considered to be an undivided mineral interest and each heir may lease or not lease their interest as they so choose. I recall a similar situation once where I had leased all of the heirs but one. I was down to the toughest nut to crack. He agreed to lease on one condition, i.e., that I pay him more than everyone else. I was between a rock and a hard place. Pay him more and get the other heirs mad at me. Don't give him what he wants, and not have 100%. What did I do? I can't remember. It was way back yonder.
At some point, an Affidavit of Heirship should be executed by all of the heirs. Whether that is ever recorded, just depends. I have personally satisfied title curative requirements by acquiring and notarizing various types of affidavits, and will swear to this day that they are just sitting in a file cabinet somewhere unrecorded.
Thank you Dave for your quick response. That helps … So the company buying the leases has to obtain a 100% documented response from each heir before he can proceed to drill.
Do we each initiate the Affadavitt of Heirship on our own now that we know we are heirs and since we now have the actual Mineral Rights and Royalty Transfer notarized form from 1946. . Do we each go into a court house where we live or does this Affadavitt have to be completed in Shelby Ms…
There has never been any drilling on this property …we understand there is an interest. now… Thanks again…
It's always preferred to try and get 100% prior to drilling. It makes things go smoother. The laws vary from state to state. They don't always need 100% to drill. For example, in some states, instead of leasing, the mineral owner may choose to participate instead as a working interest owner, but they will be billed for their proportionate share of the costs. There are also forced pooling statutes. You might try to get the advice of an oil & gas attorney or a landman who works your state.
I would say that is a great idea. Initiate the Affidavit of Heirship on your own. Make sure that it is properly notarized and file it of record in the county where the mineral interest is.
At present our family has 1200 plus acres leased. It is devided five ways and each fifth is devided per members of each family. We each have our own separate lease and I am the family spokesman for our portion, meaning I am notified first for whatever comes up.
Thank you Glenda … When negotiating your lease … Did you have to wait until all family members … Each fifth. signed their own lease meaning the oil company did not or could not proceed until each fifth signed his/her lease ??? Does that make any sense?? Thanks again…