Mineral Title Question


#1

I own some minerals that are in title as joint with survivorship can I take my half out of survivorship without the other person in title approval?


#2

That is usually a description of a bank account, rather than mineral title. You should consult a oil and gas title attorney in the state where the minerals are located and have the related deed or trust or other document reviewed.


#3

Yes you can sell the minerals/transfer them to someone else, like a spouse or child. When you do that, it basically voids the joint tenancy and changes ownership to tenants in common. So in other words, currently you each own 50% , and when one dies their interest goes to the other. After you transfer title to someone else, they would each own 50% but would not receive the remaining 50% after the other dies.


#4

Depending which state your in, you may be able to quit claim it to yourself to take it out of the survivorship. You would need to look up the state laws


#5

In Oklahoma a joint tenancy can be converted into a tenancy in common as described by K11. Reasons for doing so include divorce. Sometimes parents foolishly think this is a good way for children to inherit and bypass probate. A Transfer on Death Deed is usually a much better option. YouTube Transfer On Death Deed Video

Richard Winblad

Oklahoma Attorney


#6

What you do with your half of the minerals would depend on how the Survivorship Agreement reads. IF it contains provisions that exclude you or any one survivor from severing their interest or part of their interest in a property or asset or a right incident thereto, then NO, you could not sever your mineral interest. It would just depend on how the agreement reads and what was agreed to at its implementation.

If you’re not sure, then I would suggest that you consult with the attorney who implemented the Trust and/or Survivorship Agreement to see if there were any provisions that would prevent you from taking out your share of the mineral assets.

Good luck


#7

Generally speaking, one joint tenant can “sever” the tenancy without permission of others. This is true in Oklahoma. And, I hazard to say, this is so in every state. See an attorney in the state where the property is to verify. Richard Winblad, Attorney