My mother inherited royalty interest in at least 6 sections of land in Loving Co. One of the sections produced a well years ago and the first check came to my mother without a problem. She passed away prior to at least 5 more wells being
drilled on the other sections. The only way my siblings and I found out that we had money from wells that had been drilled was a hint on the Loving Co tax statements. After we provided the information to the oil company that we had inherited the mineral rights we begin receiving payments.
So my questions are: (1) How do you know if you have mineral rights/interest/royalty in any specified county? For example one we recently found out about was identified due to a cousin checking records and saw that a hand written will listed my grandmother as a beneficiary in a section of land in Loving Co. Again money was being held because the hand written will did not provide enough information to identify the benefactors. We are receiving offers now for our interest/royalty in Loving Co. for $164.706.55. Is this a legitimate offer or would it be reduced significantly because we are not receiving monthly payments in the amount that we did when the wells were first drilled.
If more than one person has been left interest/royalty in one section of land how much is actually that specific persons.
Thank you,
Jean Puryear