My grandfather owne land in mississippi,127 aces.in 1962 he sold the menerial rights to hess oil.He passed in 1987.Since than I have been trying to get a copy of the minerial lease.His royalty payments are 0.0000678 .How much should a person recieve precent wise from a company when selling your minerial. Also how do I get a copy of the original agreement. Also I need a lawyer to help me with this problem. He was a layman and I am sure he had know ideea what he was singing.
When you say he sold his mineral rights in 1962 to hess oil, I assume you mean he granted an Oil, Gas & Mineral Lease, correct?
You can obtain a copy of the original mineral lease by contacting the County Clerk of Court’s office in the County the property is situated in.
The royalty provided for on a lease varies greatly. Back in 1962 it was probably common to receive a 1/8th royalty interest when granting a lease. Today, it still varies greatly, but 1/6th to 1/4th is common.
You can probably find an Oil and Gas attorney in Jackson, MS. Just do a google search.
Jules