Minerals recorded but funds not received

General Mineral Rights Discussion
1

partial mineral rights were sold and recorded but no money has been received. What is the process of getting the process reversed?

2

Patrick:

Could you expand on this information such as time frames, documents involved and any other details involed in this sale of minerals?

3



I have signed a mineral deed last of April and was supposed to get monies within 45 banking days. Have not received monies yet . A draft was sent to Chase Bank. I have been unable to get a hold of them. My question is : can they file the deed without having paid me the money?

charles s mallory said:

Patrick:

Could you expand on this information such as time frames, documents involved and any other details involed in this sale of minerals?

4

Patrick:

My first question is when does the clock start running on this 45 banking days? If it was effective at the time the deed was signed, you may have to consider suing this company in order to settle the matter and clear the title. This is the downside of accepting a bank draft in lieu of a company check. If the check bounces, this opens new legal doors to persue. I have taken bank drafts for leases in the past but lately I request a check or no deal. I was lucky on all but one bank draft which, as in your case, took much longer than agreed. After numerous phone calls to the company, I finally got my money. Good luck on your matter but I would be locating a good attorney just in case a lawsuit is in your future.

Patrick Monroe said:



I have signed a mineral deed last of April and was supposed to get monies within 45 banking days. Have not received monies yet . A draft was sent to Chase Bank. I have been unable to get a hold of them. My question is : can they file the deed without having paid me the money?

charles s mallory said:

Patrick:

Could you expand on this information such as time frames, documents involved and any other details involed in this sale of minerals?