Is there a way to claim unclaimed interest if you have owned land 30+ years? Even if you do not own now. Shirley in Texas
Shirley,
What, exactly, are you asking? Be more specific ...
Thank you.
Pat
My husband owned 600 acres of land for about 30 yrs. He sold and retained minerals. Some of minerals are unclaimed or people cannot be found. Is there a way he can claim these minerals ? Shirley
Hi, Shirley -
I am not an Attorney, and that is certainly a question for one.
I have a couple I can check with for you, but I believe only the surface owner can attempt to claim minerals owned by missing owners by filing a Suit to Quiet Title. Your husband, as only a mineral interest owner, might not be able to file such a suit.
If you know who the missing owners are and can provide me with the legal description of the land, I can try and track them down. You may be able to purchase the outstanding interests from them or their heirs.
If you want to send the information privately, accept my offer to become A Friend on The Forum and you can send it to me that way.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
Thanks Charles, this helps so much. If we have this problem with property we own now I know what to do. Thanks for offer to search for these people but we not interested in buying minerals. Shirley
Charles, that's a new one for me. What constitutes "missing mineral owners"?
Hi, Ann -
Missing Mineral Owners are people who do not appear to be able to be located. At least not through ordinary means.
In the most extreme cases, they may have died without any known or discoverable family or heirs, etc. Sometimes they are just difficult to track down because they have moved many times or, in the case of women, married so many times and their names have changed so many times.
Since the advent of the internet, with it's increasing myriad of sources of information, it is somewhat easier to locate people or their heirs than it was years ago. But, still, there are many instances where people seem to have simply disappeared off the face of the earth without leaving a trace.
The Division Order Departments of many Oil and Gas Companies have royalties that are being "held in suspense". I would even go as far as saying most Oil and Gas Companies do. Even the smaller ones.
The larger companies probably have hundreds of thousands, perhaps even millions upon millions of dollars being "held in suspense".
Royalties that are not being paid because they can't find the rightful mineral or royalty owners, or they simply don't have a correct address for them or they are waiting for an Estate to be settled and the right paperwork submitted.
Just so you will know: Every State that I am aware of protects the rights of these "Missing Owners" very closely. The Oil and Gas Companies cannot spend those monies or use them as collateral. They can, however, earn and spend interest earned on them that is not due and payable to the Interest Owners, which I personally think sucks.
Either way, most of the royalties "held in suspense" eventually end up being turned over to the State. After about 7 years, I think.
That does not, to my understanding, cause the mineral or royalty owners to lose their ownership. They just lose the monies held "in suspense" too long.
Some families luck out, however: It has taken over three years of effort, but I have recently been able to locate what is apparently at least $150,000 (and very possibly up to double that amount, but I won't know about that until this coming week), being held in suspense for the family of someone who contacted me through The Forum.
Hurray for them! They are a great family.
Coming up upon aged 60, and after more than 37 years of researching County Records and Leasing Lands and struggling to out pace the schedules of when the Drilling Rigs show up, I am considering doing that sort of research professionally.
Finding People.
There are some licensing issues I will have to address in order to do so, legally, but I am considering it.
The Best part of my entire career as a Landman is that I have never had to "Sell" anything. All I have ever done is bring people money. Many times, money they didn't even know they had coming.
Hope this helps -
Charles
Thank you, Charles, I very much appreciate your explanation.
Personally my concern is OK & TX minerals that haven't been leased in quite some time and them being taken without my knowledge since I don't live in the county where they're located.
I suppose an "Affidavit of Current Address" wouldn't hurt.
Thanks again.
Ann
I don't know about Oklahoma, but in some States if you do not periodically declare your mineral interests, they go back to the surface owners.
Nobody in Texas can take your minerals unless they are producing and you fail to pay your taxes.
If you will send me your legal descriptions, I will be happy to look up the areas they are in and let you know what is happening on the ground.
Accept my invitation to became A Friend on The Forum and you can send me your legal descriptions privately.
Maybe you're rich and don't know it.
Charles
I was under the impression that in Texas the oil companies could only hold these funds for the lost individuals for a finite period and then they had to be remitted to the Texas.
I have found certain instances where the producer has graciously held the funds, making no attempt to find the owner and failed to remit to the state.
What are the requirements on remitting funds unclaimed property to the state comptroller? Wouldnt this greatly assist in finding the lost individuals?
I only have one non-producing tract in TX that has not recently leased. And I check unclaimed properties regularly. Appreciate the offer but I track things thru TX RRC.
I have a number of non-producing Oklahoma tracts and I've never heard of OK surface owners filing quiet title, but I became concerned since I read the earlier post.
I am prepared to file Affidavits of Ownership as required by both ND and KS.
Hi, Doug -
It is my understanding that the companies are required to remit the unpaid royalties to the State, but I am not sure of the time period. 7 years, maybe?
I suppose the State Comptroller's Office or Website could help with these kinds of questions.
The companies are not required to locate royalty owners they are holding monies for. Many of them, however, do so anyway.
Charles
Charles, If money is being held in suspense that would mean there is production and therefor taxes. Who pays those taxes until the mineral owner is found? If taxes are not being paid,do the minerals get a tax lien and go up for action?
In the States that tax individual Mineral Owners, mineral interests can be seized for non-payment of taxes and auctioned off.
However, the companies provide the taxing authorities with copies of their Royalty Division Orders to use to build their Mineral Tax Rolls. If the company doesn't know who to send royalties to or don't have a good address, the taxing authorities don't either.
I have seen the Courthouse Postings for mineral interests going to Tax Sale many times, but don't recall ever seeing any seized because of a bad address.
I guess the owners pay the taxes when they finally get their paperwork straightened out. You get a big check, you get a big tax bill.
Being the surface owner and own some minerals, Is it possible, in lease agreement to state company to contact you as to any unclaimed mineral interest so I could file " Suit To Quiet Title". Is this done in some cases? Shirley
I doubt it. Too many liability issues.
You can, however, add in a Clause or Provision that they provide you with copies of any Title Run Sheets and Title Opinions they create or obtain covering your lands. With those you should be able to determine the mineral ownership of your lands and see if all of them are under lease.
Even if they are, you might be able to buy the other owner's interests.
In Texas, and I believe in New Mexico, you can check the Mineral Tax Rolls under the property number (Well(s)) rather than under an individual's name.
See if there are any "Unknown"s or "Bad Address", that sort of thing.
I can do that online for you if you can send me the legals.
Shirley
Thank you Charles.
I am not sure that the statute necessarily matter, the fact is that remittances to the state of unclaimed property are often ignored. I found that just to be the case last year on one that was rather large.
I have noticed that, too. Guess there aren't any fines involved.
Shirley, Is your question "how do you take something that does not belong to you and make it yours?"
Per your post your husband has owned the land for 30+ years. He presumably bought it or acquired it subject to a reservation of minerals by a prior owner. You clearly recognize it belongs to someone, whether you can find them or not. I would think the state might hold it on behalf of the rightful owner but why would you think your husband "deserves" it?
Now i do understand that in some states the severed minerals revert to the surface owner after a period of time, but since you stated this was a Texas property, i believe the mineral rights are primary to the surface.