I recently helped my parents move and found some of my dad’s old paperwork. His health is declining and he is starting to forget things. I came across some old oil and gas leases with his name on it. It talks about him leasing 40 acres of land located in Cherokee County, Texas. The first lease is from 1972. I found more paperwork where they released it back to him in 1978. Then another lease out in 1983. He said he never sold it. Can he still own this land? And what exactly does all this mean? As for the location, all I can figure out is it’s part of the Lacy survey A-0525. If anyone can give me any advice I would really appreciate it.
Yes, he STILL owns it and can lease it. You and your Mother are heirs and should get a lawyer to represent you in any lease negotiations with oil companies that may want to drill there. Always negotiate through a lawyer and have the lawyer collect his/her fees from the oil company interested in leasing from you.