My wife and her brothers inherited the subject mineral rights. She is now being pursued to seek those rights. How do we determine actual holding and fair price?
Welcome to the forum.
If your wife" inherited", then she needs to find out how get a copy of the probate documents. They would name her as an heir. The probate needs to be filed in the county of the deceased person’s residence and also in Blaine county. If “inherited” was by word of mouth or assumption, then that will not stand up and legal work needs to be done.
Is someone trying to buy them? She needs to find out if she has back royalties due from the ancestor’s holdings first. Never let anyone rush you. She needs to find out how many net minerals she has, etc.
Most offers to buy mean someone wants the value of the royalties from current wells or future wells and they plan to make a profit. Just because they offer to buy, doesn’t mean you have to sell. The offers I have received have been low to actual value given the time frame I am willing to wait for to get the royalties.
Get the probate issue settled first and then come back. Mineral values are not as easy to find out compared to surface real estate.
Does this mean that she needs to complete a probate?