America’s conversation place for mineral owners
We have had an offer to lease some acreage that has been leased since 2005. The land company said they would take the current leasing company to court to get lease cleared. i tried to get more money but they couldn't because of "court cost to get lease released." We have had mineral rights under lease but no production since 2010 so I called the company myself, and they agreed to release the lease. Said all I needed was to write a letter to Owner Relations with our owner # and they would send me a letter releasing us from lease
My question (1) do I need to record this letter when I receive it the county seat of the county the lease is in? (2) does the letter/ document they send need to be notarized and signed by their legal department? Sorry this is so long. Thx in advance
Send the owner relation letter certified return receipt.
My experience is that the operator records the release, but they don't jump on it. I have requested several releases and gotten them, and in one case, I sent a registered letter to the operator which stated the term of the lease was expired, and no production was ongoing, so I would consider the lease null and void unless I heard back from them within 30 days. Sounds of crickets in the silence, but i sent a copy of that letter to the potential new lessee, and they accepted it.
Thx. For your advice and sharing your experience. I have actually talked to the company and they said they would terminate the lease. They said they just needed a needed a letter requesting termination in writing. I sent a certified one today. I was mainly wondering if it should be filed in the county seat. I am keeping my fingers crossed. We do have an offer for leasing but the company said they would take the company to court to get the lease terminated and only wanted to give us a small percentage of the bonus up front and the rest if they got the court to clear the lease. I just decided to handle it myself. We will see. Plus they said they could not give us more bonus money because they would have court costs in getting the lease cleared. I think that might have been overstated. I am new to all of this but am not afraid to make calls and ask questions. Our well had been non producing since 2010. I just became trustee of the well so I am trying to do the best thing for my family with very little knowledge and experience.