I am trying to get my head wrapped around the net shares.
My great-great grandfather had 175.75 acres of mineral rights and had four sons. That means they each got a qtr of the acreage, correct? Which is 43.94 acres net.
One of those brothers begat my grandmother and two sisters. SO that qtr share of 43.94 was split into thirds which equals 14.65 net acres.
My grandmother had one child, my mother, so she got the 14.65 acres.
My mother passed her shares to me and my brother. Which is 7.33 net acres.
Am I right in this math or is just not this simple?
I am trying to sell two smaller parcels and I am asked for net acreage and haven’t a clue!
I have lost heirs running from the three great uncles side but that shouldn't affect my shares correct?
Thanks for any help on this. Sometimes I get into it and my eyes glass over
I think it would depend if these various relatives had wills or not, things like that. If nothing complicated, your math sounds right.
Nancy is correct. The game changer could be a Will
As I understand it, the laws of intestate succession of the state where the minerals are located apply.
Hi, Shari -
If your eyes glaze over at this kind of stuff, you'd never make it as a Landman. It's what gets me going every morning!
Nancy is correct, the laws governing intestate succession in the State the minerals are located in would dictate distribution of the interests.
You should follow out all of your Great, Great Grandfather's family history down to the present day, including all of your distant ancestors and relatives. If anyone died without a surviving spouse and without any children, their interest (net acres) may have been distributed to their siblings and down through them to the present day.
There is a chance you may own more than 7.33 net acres.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
o.k. I have a question, to that o.k. I just signed a lease but I am not sure about how the roy. I was given 1/4 roy.. o.k. it is 108 acre but is given all my living aunts and so on. do they take the whole amount of payday and divide 1/4 x the amount of people= the payday or each person gets less by generation's like does my aunt get more money , because she is a generation before me. does that make sense. I got the mineral rights from my dad, side which he has pass. I am so confuse and no one from my dads family will talk about it. thanks.
Laura, when you say "1/4 roy" do you mean 1/4 = 25% royalty or that you own 1/4 interest in the royalty or something else?
Then, to see how much share you own, unless that 1/4 means your share, you would need to know who owned the interests way back when, how that person is related to you (your great grandfather? etc) did that person have a will? If so, that should determine the next division. If no will, see above for some talk about that. It can get complicated. But generally, most of the time if you can find that ancestor who owned the full property, then if his heirs were his children, equally, the number of children would determine that step. Then if one of those is your ancestor, did that person have a will? etc. How many children? etc.
As you are saying, your aunt probably has the same share as your parent. Your parent's share might be divided among his/her children, but your aunt would have a full share from her parent. Etc.
the lease said my ownership is 0.11302083 net mineral acres. I only got 100.00 lease bonus a royalty of 1/4th on production and an option to extend for an additional two year.these mineral rights goes back to my great aunt which she got from her husband, I don't think there was a will. but this lease has been going on since the 1990 this land has gas wells all around it. and has been a big money maker far the oil company. this is my first time on the lease from my dads side and my aunts won't talk about it. I know a lot of the people have died off. will my net mineral acres ever increase. any info. would help me understand. thanks
A 1/4 royalty is good.
I think you would need to know the bigger picture of what your great aunt's husband owned, as well as just who were your great aunt's heirs. If her husband owned only a portion of the total acreage, maybe 1/5 that he inherited along with 4 brothers, or something like that, then your great aunt only had that amount. If she had a will, it would go as her will said. If she didn't, it would go as the laws of the state where the minerals are located says. It could be possible that some other of your great aunt's heirs might leave their shares to the other heirs, but that would have to be looked at for each one. It can get somewhat complicated.
If there is a landman or somebody wanting you to sign the lease, you can ask what information they have about these things. Sometimes family, for some reason, don't want to talk about oil and gas inheritances. Better if they do, of course.