Hi
I found out on the state's missing money link, that Central Montana Resources sent money to the state under our grandfather's name. We called the state and all the information they would release is the County, which is Garfield. We called the county and no luck as they seemed to be confused as to what we need. CMR is out of business. I called their San Antonio Office, but all I got was a recording.
Our grandfather has mineral rights all of this area. We have some documents, but we know there are more minerals rights under his name that we have no information on. I searched Rosebud records and found over 50 recordings. Garfield may be the same. We just do know.
Does anyone know how we can find this lease and/or royalties?
Does any know what the going rate for leases have been in the past 5 years?
Thanks
Joe
Joe, Leases went for about $10 to $50 per net acre. No doubt someone received over $50, yet the vast majority probably leased in the range of $10 to $25 per net acre.
As to the unclaimed money C.M.R. paid in your Grandfather's name; His will (if there was one), and the probate of his estate (if there was one) would dictate who is entitled to those funds. Before releasing this money the State will require proof that he is dead, and proof someone is appointed as his lawful executor. If there wasn't already a probate, you'd likely need an attorney to probate his estate to collect those funds.
Further, and more importantly, a probate would be needed to convey any minerals out of his name into the names of his rightful heirs. If you've found he owned minerals in Rosebud County, and now the CMR check proves he also owned some in Garfield County, you need to get all those minerals conveyed out of his name. The only way to confirm what he owned is to go to the respective courthouses (in Forsyth and in Jordan, MT) and run the records for his name (and any other relatives who might have held interests there such as his parents, etc...). Montana records are not online. So this can only be done in person in those counties.
The 'current' Heath Shale play is effectively over. I'm unaware of any leasing activity. There is still an occasional well being drilled but it is very, very limited. However, this now defunct oil play is unlikely to be the last one. It may be five, ten, or twenty years from now but interest will probably pick up again. As a result, now is the time to determine exactly what minerals Grandpa owned, and then take steps to legally convey them onto his heirs. Through that same probate process you can collect those unclaimed funds from Central MT Resources. Good Luck.