I have recently put a contract on a piece of property that has a mineral reversion in it that states the minerals will be transfered 15 yrs from the date of that sale, 1999. At the time of the closing of this property, I now have roughly 4 yrs left till I am the rightful owner of the minerals. The area is active, and I hope it still is at that time, and I would like to know what I would need to do at that time to secure the minerals. The extra owner in between the reversion, the thought of an active well, etc have me curious how I would go about securing what is mine…
NOT LEGAL ADVICE
Dear Josh,
I think what you mean is a term mineral reservation, which are rare these days, at least where I am. As far as “securing what is yours” in four years, you don’t have to do anything for the mineral title to vest in you. If you want something in writing stating that you own the minerals, you might have an attorney craft an Affidavit of Ownership for filing in the Property Records of the County Clerk’s Office, but it’s not required.
Assuming that there has been no alienation of the mineral estate since 1999, any decent landman will be able to figure out that you are the owner and approach you for a lease. If the minerals are leased at the time that the fifteen years expire, then contact the producer immediately, inform them of the change of ownership, and provide them with a copy of your deed.
Sincerely,
Philip Wynne