I signed a lease for Hughes County on November 19 and returned it to the leasing organization. My cousins and siblings have done similar. This is about 40 acres.
We were informed this week that "it has been determined that the curative measures for your family's interest have proven to be insufficient in curing title. Therefore, we will not be able to move forward with funding."
We have provided everything that was requested to support the title work. The only request made to me was to identify how a trustee was changed, which was done through the Pontotoc County court system and is a record within that system.
The leasing organization stated that they were going to file a release and would record that.
Obviously, we are disappointed with not receiving our lease bonuses and puzzled with this outcome. We have multiple leases with multiple leasing organizations that are based on the same chain of title as this one.
Does anyone have any experience with this? I've requested an explanation, but not sure I am going to get one.