My mother and aunt are heirs to mineral rights (23N 59E) in Richland County MT. and the rights are recorded in Richland Co. There are already Leases written for the 50% of the mineral acreage, my mother and aunt own the other 50%. Recent conversations have brought up a ‘‘Deed of Distribution’’ how important is this form to have before they sign a Lease? Also, the already written Leases are for approx. 5 yrs and 20%. Is this the ‘‘going rate’’ or considered a fair offer/amount for Richland Co.? TIA
Not speaking as an attorney, but you cannot lease without a clear title. The mother and aunts need to prove that they own the acreage. We needed a copy of the deed of distribution after our mother died in order to lease. The lease terms are common for that area. Wise to get an attorney to review any lease as they are generally not in the mineral owner’s favor and need some negotiation.
We have reached out to a Probate attorney and working that out. Thank you!