I was contacted by a company to lease mineral rights I apparently own in Colorado. I signed a 5 year lease and was paid the up front payment. I have since had my mineral rights searched by a local title company to ensure that I do not own more than the 1/2 interest the Oil company said I owned. The title company searched the records and found that I do not in fact own any minerals or at least that is their opinion.
So, if the title company is correct and I do not own any mineral rights on the tract and have been paid what are the reprecuccions? Can I be sued? Is this just a sunk cost of the oil company since it was their mistake? What if the "real" mineral owner tries to lease the 100% share they own? I am afraid this could get messy.