My family owns several parcels of mineral rights in Oklahoma since 1907. Some have been documented through leases across the years, others have no paperwork other than the original abstract. How can I learn exactly what we own today?
Very common question here. You or somebody else would have to research the records at the office of County Clerk in the counties where the lands are located. If someone died outside of those counties, you may also have to go there to find their probates. You need to put together what is called a chain of title. There has been some past debate regarding the difficulty of doing so. My position is that it would be very difficult for someone who has never done that before to get complete accuracy or high resolution. Others feel that anybody can do it.
Mr. Davis,
Lease records are not nearly as valuable as the original abstracts. Production payment records when coupled with leases also provide good leads. The abstracts maybe most valuable in finding funds your ancestors' estates may be due. Since the minerals are thought to be located in Oklahoma, I encourage you to pursue ownership identification. Decades ago, I took over management of a very large estate in OK and TX in Bankruptcy that had been taking in $60k per year passively. Just by following up with operators of wells, I brought in ten times that amount/year for several years. Many times the operators just couldn't find the rightful owners.
Once you compare the abstract descriptions to current activity, you will know where to conduct your research.
what would it entail to have you do a chain of title in Okema?
Gary L. Hutchinson said:
Mr. Davis,
Lease records are not nearly as valuable as the original abstracts. Production payment records when coupled with leases also provide good leads. The abstracts maybe most valuable in finding funds your ancestors' estates may be due. Since the minerals are thought to be located in Oklahoma, I encourage you to pursue ownership identification. Decades ago, I took over management of a very large estate in OK and TX in Bankruptcy that had been taking in $60k per year passively. Just by following up with operators of wells, I brought in ten times that amount/year for several years. Many times the operators just couldn't find the rightful owners.
Once you compare the abstract descriptions to current activity, you will know where to conduct your research.
Good Luck
Gary Hutchinson
Minerals Management
It would depend on when the original abstracts ended.
Gary L. Hutchinson said:
Mr. Davis,
Lease records are not nearly as valuable as the original abstracts. Production payment records when coupled with leases also provide good leads. The abstracts maybe most valuable in finding funds your ancestors' estates may be due. Since the minerals are thought to be located in Oklahoma, I encourage you to pursue ownership identification. Decades ago, I took over management of a very large estate in OK and TX in Bankruptcy that had been taking in $60k per year passively. Just by following up with operators of wells, I brought in ten times that amount/year for several years. Many times the operators just couldn't find the rightful owners.
Once you compare the abstract descriptions to current activity, you will know where to conduct your research.
Good Luck
Gary Hutchinson
Minerals Management
the original abstracts have not ended
If you have a current abstract or abstracts (brought to date by a licensed abstractor), then there is no case. You should have everything you need to answer your original questions.
William Davis said:
the original abstracts have not ended
Well, the abstracts are from 1907, they are not current. I get the feeling that if no business is done concerning an abstract, no new paperwork is generated, and no current record of ownership would exist.
I think I understand you. Sometimes the current record of ownership needs to be built or cured, like the lady in the picture with the dog, who needs to build her ownership or interest by filing an affidavit of heirship.
You should be able to find a qualified abstract / title professional in the county or counties in which your property lies, who can update the chain of title for you. In Texas I have heard that most (real estate) title companies will no longer run minerals, even for informational purposes. If that is the case in Oklahoma, you may need to contact a landman or a company who specializes in mineral title. Dave is correct that researching the records yourself is not as easy as some people on this board believe it to be. Gary - interesting story about the large estate and finding alot more production that had royalty in suspense. Always worth verifying your assets and checking for production and payments.