Hello,
I am not really sure where to go from here my husband and I received a letter/lease from a company in TX regarding some land my late father-in-law owned, we still aren’t sure if he even knew about this because he never mentioned it to us or anyone for that matter. He is from the area where the land is, we just aren’t sure how he came into this or where to go from here. Anyone with knowledge on how to locate that info. What exactly is this lease, is this common? We are from California and have no clue about these kinds of things. How can we locate the land it just gives us a “Section” #.
Welcome to the forum. The first thing you need to find out is a complete description of what they want to lease. State, county, block, abstract name and number plus section number if in Texas (section, township and range) most other states. The section # is insufficient. Ask the agent how they got your name and what title work they have done to think FIL owned it. Second, has a probate been done of the will and where was it filed? May be important. If not completed, then that slows down the leasing process until your husband and other heirs actually own it.
Oil and gas leases are common in many states. However, it is really wise to get an oil and gas attorney to help get the best wording in the lease. The draft lease they send you is not in the mineral owner’s favor and needs quite a bit of revision to get you the best wording and a more fair lease. That investment can bring you a larger amount of royalties down the line if the well is successful.
Start there and then come back with the description and we can help you understand the activity, how to get a good lease, etc.
If you want to post the legal description thats on the lease, I can take a look at it for you.