Getting ready to list property for sale (surface only) in Sec 20, 3N, 12E, Pittsburg County, Oklahoma. I assume a Mineral Deed will need to be filed with County Clerks office to preserve ownership of the minerals. I have seen Mineral Deeds transferring ownership from one individual to another and from an individual to a trust, but neither seem appropriate for this situation. The land was from my grandmothers estate in 1960 so there are several people involved. Haven’t determined if we are joint tenants or tenants in common yet. Abstract is being pulled. Anybody have any experience in this? I would expect the Title Company would/should do this, but I want to educate myself before going to closing if we get a contract and go to closing. The property has been constant production (gas) since the late 60’s.
Suggest that you get legal advice to make sure the transfer is done properly. Do not rely on just the title company. One wrong word on the deed can really change the intent.
Just reserve the minerals in the deed where the real property is sold. Any attorney, even for a title company, should be able to handle that easily, Be sure to express that will be the case in the listing/sales contract.
If you have any question that things are being done properly consult your own attorney.
Ms. Barnes is correct: consult an attorney in your jurisdiction for the appropriate wording of the deed. Fee attorneys for title companies are not your attorney and don’t necessarily have expertise in mineral transactions. If it’s done wrong, you or your heirs may have an expensive mess to clean up later, and in some cases the error won’t be able to be remedied at all. While there are many good ones, I have cleaned up a number of transactions where the title attorney got it wrong. As a side note: neither attorneys nor non-attorneys should be giving legal advice in these communications.
Thanks for the responses.
Generally, you would make sure that the listing agreement, purchase contract and deed expressly state that this is a surface only conveyance and that all oil, gas and other minerals are being reserved to the seller.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Thanks for the info, Richard.
Legal advice from a real estate attorney that has O& G experience is a must. It is easier if you are retaining all the minerals. There are other ones besides oil or gas.
Title companies in Texas generally avoid O&G title work. I do not know about OK. You also need to pin down how everyone holds their inherited titles. This is not a google mineral deed search, cut and paste operation. Others have said it - one misplaced/misused word or comma can make a big difference.
I provided your contact info to the family member handling the sale.
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