New to mineral rights- Need help and advice

General Mineral Rights Discussion
1

My 3 brothers and I share a mineral right in Reeves County, TX that was deeded to us when my mother died. I have been getting letters for 5 years offering anywhere from $200 to the highest of $5000. I wrote a Landman recently who just offered me $100,000 for my share. How do I find out what my mineral interest is really worth? .

Also, we discovered that my grandfather had purchased two pages of various mineral interests located all over Texas which he put in a trust with my uncle (mother’s brother) being trustee of the trust. My grandfather’s will designated that these mineral interests were to be divided between his heirs at the death of my grandmother, which was in 1967. . It appears that these mineral interests have never come out of the trust and my uncle has been receiving royalties all this time. My mother never received her share. My uncle deeded her only one of the mineral interests, which I was just offered the $100k, 8 years after my grandmother died. My uncle does not know that we are aware of the mineral interests! We became aware of them when BHP Billion called and said the deed my uncle gave my mother was incorrect and only covered surface to 3000 ft. They pulled up the will and trust and that’s how we discovered all these other interests. My brother and I hired a Landman to research 3 counties to see if the interests were still in the trust, which they were in those counties. This Landman said he could only hope to assemble a list of mineral interests for his children. I would appreciate any advice anyone has on valuing these interests, how to proceed on getting these mineral interests deeded over to my brothers and I, and how to find out how much money my uncle could have been receiving for the past 40 years, or any advice on what to do in this situation. This is a subject that I do not know much about and am needing advice. Thanking you in advance! West Palm Beach

2

Rosalind,

I would think you need a Professional to dig into this can of worms. I suggest you contact Oil and Gas Attorney Wade Caldwell/San Antonio, Texas.

http://beclaw.com/attorney.php?pg=g-wade-caldwell

At least have a consultation with him and go from there................

Clint Liles

3

Thanks very much for this advice, Clint! I appreciate it.

4

If the facts as presented are correct, there could be a very serious issue of breach of fiduciary duty by the trustee. You need a qualified trust attorney to get an accounting of the trust revenues, including copies of the trust tax returns. It is possible that all the income is still in trust bank account. You may need to file a lawsuit and ask for a court order to make sure that there are no transfers of title until the matter is settled. You cannot do this on your own. Good luck.

5

I to inherited mineral writes and know and am told nothing. I am disabled and am located opposite side of the US I was offered verry little to sign a release and DIDNOT now am not advised on anything. My siblings and I are not in touch . All I know is I have mineral writes and may have some land aswell! Any suggestions would be great pertaining to my next step

6

Thank you so much for your good advice!!!

7

Rosalind,

Our family has used Wade Caldwell/San Antonio, Texas for several years. He has helped us in many ways. He is one of the best in Texas.

Jay Starnes

8

Thank you for this referral, Jay!

9

Mark -

You need to get in touch with an Attorney as well. Mr. Caldwell is an excellent Attorney and as long as your properties are located in Texas, he should be able to help you.

If the person who was the Executor or Administrator of the Estate(s) of whoever you inherited from did not do what they were supposed to do, they are in really big legal trouble.

Charles

10

Rosalind,

I am not an Attorney, but from my experience if your Grandfather's Will designated that the Trust would terminate upon the death of your Grandmother in 1967, then it did so. The paperwork (such as filing a copy of your Grandmother's Certificate of Death in each of the Counties) just hasn't been brought up to date, which would have been your Uncle's responsibility.

If the Trust or your Uncle has continued to receive lease bonus payments and royalties since 1967, then he could be in big trouble. And not just with the family.

Having said that, however, if any Landmen leased the interests after your Grandmother's demise, they should have caught the terms of your Grandfather's Will and determined whether the Trust was still in effect.

Many people here on The Forum speak very highly of Mr. Caldwell, but I don't know if he is a Civil Trial Attorney. If you need one of those, I can highly recommend one.

Hope this helps -

Charles Emery Tooke III

Certified Professional Landman

Fort Worth, Texas

11

Thank you very much, Charles!! It is all helpful!