A bank owns 1/2 the mineral rights (purchased in 1939) under a section of land; I own 1/2 the section and 1/2 the mineral rights. Today I learned that the entire section had been leased to an operater from June 2006-July, 2011. The operator was paying the bank annual lease payments. There has been no development on the lease.
1. Should I have been made aware of that transaction?
2. Am I intitled to receive any income from that transaction?
Thanks for your input,