I’ve been contacted concerning possible mineral right in Ward Co. Have seen a few offers too purchase clouded title. What is a clouded title? Thanks in advance for your help.
Before they will pay royalties, oil companies require that your ownership be based on a regular “chain of title”. That means a series of documents transferring the mineral interest from one owner to another, filed in the deed records of the county where the minerals are located. The documents must be legally sufficient documents such as deeds, affidavits of heirship or court orders accepting a will as a muniment of title. If one or more of the documents in the chain of title are missing, or if not all past owners of the mineral interest have joined in a conveyance of the interest, or for a variety of other reasons, the “chain of title” is broken and you are said to have a cloud on your title. ask the person who has contacted you exactly what the “cloud” on your mineral title is. If they won’t tell you, be wary. This may be a scam. I’ve had a number of clients tell me they been contacted by someone who has tried to get them to sell their mineral interests for less than what they are worth because they alleged there was a “cloud” on their title. Ask the person who contacted you just what the cloud consists of. if they won’t tell you, it’s probably a scam. If they will tell you, (and maybe even if they won’t) you may want to contact an oil and gas attorney to assist you in removing the cloud. There are a number of rehabilitation procedures available under Texas law.
Ditto on the reply. Do what Aimee says. Also, look up your location and see if any pending well permits are around you. There is a Ward Co in TX and one in CO, so you need the correct state. Also look up the possibility of any unclaimed funds in that state, the residence state of the person you got the minerals from and Delaware. See if there are any wells being drilled now. Somebody wants something that you do not know about. Red flag for me…
Ward Co. Tx. Section 32, block 33.
Here is the Texas Railroad commission website for lookin up abstracts. http://wwwgisp.rrc.texas.gov/GISViewer2/. This is apparently an inactive or mis-spelled link. See new one below.
What is an abstract? The page will not load on my device. Thank you.
Each parcel of land/minerals have a legal description. In Texas, that description is given an abstract number or unique identifying number. In OK and other states that use a section, township and range designation, they may be called “tracts”.
Not sure why your device cannot load it. It is a website. Sometimes they do maintenance so you might have to try a couple of times. I just tried on my computer and it said it took too long to load, so I will try later.
Try this link instead