I inherited mineral rights in Colorado from my Great Aunt. She had divided interests among 18 family members. Last year I was contacted to lease these minerals. I was told that another persons had Executive rights to leasing the minerals. I was told that I had no say in negotating the lease since the executives/lawyer had the exclusive rights to lease.
How is the executive rights determined?
They are determined somewhere in the chain of title. For example, when the land is sold, the seller can reserve all of the minerals and the buyer/grantee gets no mineral rights. To address your question, the seller/grantor can also reserve all of the executory rights, or the right to execute all future leases without the joinder of grantee. It may be stipulated that the grantee is entitled to one-half of the bonus monies, and royalties under the lease, but that he is not required to sign the lease itself, thus being a non-executive interest. In short, what the lease hound told you could very well have been correct. In the future, if you have doubts, ask them to mail you a copy of the instrument where the executive rights were reserved, or else provide you with the reference so that you might request a copy from the county of record. (County Clerk)