I’m new here and really have zero idea what I’m doing or what I’m talking about. Sadly.
I am an heir in a probate case with both surface rights and mineral rights involved. Both plots of land seem to be in this area according to the legal descriptions.
Can anyone tell me anything about these?
You’ve inherited good mineral rights that are actively being produced by multiple horizontal wells. Any idea if the decedent was in pay status at the time of passing?
Your section is highlighted in blue. Do you know the exact legal description (NE/4, SW/4 of NW/4, etc.)?
Something about the South 1/4 of the West 1/4 (s/4 w/4) of Section 162, Block 34. Yes, I believe it was in pay status.
The surface - without mineral rights - land is located in the Northeast 1/2 of the West 1/4 of Section 162, Block 34. And something about Abstract No. 1141.
What exactly are you trying to determine?
BBL - honestly, I’m not sure. There are a number of us who inherited this from the estate. None of us knew or know anything about oil and gas. I’ve traced the oil part and it seems to have been in the family a long time. Since the 50’s. Maybe even longer. We aren’t sure what to expect in terms of future payments. I think mostly I just have a ton of morbid curiosity.
What to expect from your inheritance, my grandfather started Wink Texas, 1927, it was a Boom Town in 1929 with 29,000 people. He was a Justice of the Pease and my Grandmother the first Stenographer in Kermit Texas. First Rule: Do not think about selling your minerals, these minerals and leases will pay you a dividend now and your kids in the future. My Grand Dad had a Mantra for his Kids, You can sell the Land, but Never, Never, Never sell the minerals. Cause you never know what our Fine Oil Companies will find a new way to redrill West Texas like they did with Horizontal wells. Come back and tell us of your Riches, We all want to hear, or maybe just me. God Bless
Thank you!
I think one of our questions (there are multiple of us who inherited) is about the mineral rights. How do you pass your shares down to your children? Is this something that can be done from generatation to generation?
Also, from what I can tell, there are many many people on the “title” to these rights. I believe we’re all related in some for or fashion. Who decides what happens when our current lease expires? Half of these people don’t even have contact information for eachother.
How do you look up the list of current owners?
And for the surface that we will also inherit, without any mineral rights - I’d like to know what the taxes and other costs have been in the past. How do you look up the (a) valuation and (b) the costs?
There is a blog section on this site that has articles that may help, including this one.
Hey Traci. I would love to help to determine the value of these minerals. I’ve bought and sold minerals close to your area, but am retired now. Let me know if you want any help!
