Enerlex Offer in mail

General Mineral Rights Discussion
1

Howdy all and thank you in advance for your help.

I have just been named executor of a friends estate. While going through his mail I found a offer on mineral rights on 2 pieces of land 1 in Midland and 1 in Mitchell County Texas. there are survey Blocks and section listed.

Enerlex is offering a few grand but in reading the paperwork it seems a bit shady in that they attached 2 drafts 1 for $150.00 and the other for $3100.00 but of course reading the fine print there's hooks, crooks, bends and legal confusion.

Now I'm figuring if they are offering these amounts what are the rights really worth and being the Executor it is my responsibility to get the best price as possible for the estate.

I've Googled Enerlex and it seems this is their business so I'm not wanting to sign and run so to speak and hope for the best.

Any help would be greatly appreciated

2

Why do you have to sell as executor?

Is the estate insolvent and the sale of some property indicated and minerals rights are the easiest to liquidate?

Mineral rights can be divided without selling them and there is a very good possibility that more can be made from their sale if you don't rush it and accept an unsolicited offer.

I don't buy minerals and it matters to me not at all if you sell or not but I wouldn't sell for a low amount. If it doesn't bring enough money to be truly significant? I would just deed out an undivided interest to the heirs and let them make their own decisions.

3

There you go ... you got your answer in simple terms ... in simple English.

Good luck,

Pat

4

Those offers are what trash cans were made for.

5

Amen!

6

So as a simple man what would the best next step be. I have no idea about mineral rights or even if these are worth anything more than the junk paper I received unsolicited from Enerlex.

If I am to convince the heirs to keep theses I'd need more info. Where does a simple person find these things out aside from finding a helpful forum?

7

You definitely need the help of a competent and trustworthy Oil and Gas Attorney with this situation. I recommend you contact Wade Caldwell/San Antonio, Texas. He is a respected member of this Forum and has help numerous Members.

http://beclaw.com/attorney.php?pg=g-wade-caldwell

Clint Liles

8

Being a simple man and executor of the estate, isn't it your job to first probate the will, and gather and inventory the estate assets, pay the decedent's final debts and then divide and distribute the remaining property? You could also pass on the unsolicited offers. Then after dividing and distributing, the beneficiaries could make up their own mind on what to do with their inheritance.

As Mr. Kennedy says, "why do you have to sell as an Executor?"

Good luck,

Pat

9

There are 2 heirs and both want to "cash Out" and get as much $$ as fast as they can. For the record I am not one of them.

Aside from these "mineral Rights" there is a 63 jeep that is in milk crates and 5 gallon pails, 3 mopeds of which only 1 runs, about 25 lawn mowers none of which run and a 76 Harley also mostly in crates and pails, house is in total disrepair and upside down.

This isn't a big dollar estate but he was my friend and trusted me to take care of what little he had.

Considering how little he had I'm surprised these mineral rights weren't already sold. I'm wondering if he even knew he had them.

10

Ok, so if the heirs are of sound mind and of legal age, divide the estate and let the heirs "cash" out ... simple. Then you can say you have done your job.

In my opinion, you are making this more difficult than it is.

Good luck,

Pat

11

Thank you.

13

Thanks

I really only know what this offer from Enerlex says and that there is no $$ for an Attorney in the estate. The house is a shack with more owning than worth by a long shot, and I doubt there's .10 in pennys total cash there.

My thinking is if he knew about these and there was value he'd have cashed them in . On the other hand, who knows..

14

I have a hunch that the heirs could find a buyer(s) for some of these items through advertising on the social media. Some of those items you mentioned may have a worthy value. Just a guess!!!

I agree! Who knows...these minerals may be worth something. Since the estate does not provide for legal assistance and the heirs are anxious to cash in, divide the assets and give them the option of keeping the minerals or offer to buy them out. (Put it all on paper and have notarized.) In my opinion, it's a wealthy person who owns land and its minerals, regardless of the size or how much.

Good luck,

Pat