25 years ago I divided and sold some 35 acre tracts near Ft Collins Co, they now have expensive homes. I’m getting older and have no use for my mineral interest, I have traced the mineral interest back to 1950 and visited with the 90 plus year old former owner who says all mineral rights passed to me when the ranch sold, I simply reserve all mineral by warranty deed. Thinking now of contacting current owners and offering my mineral interest, Question, do I need a land man, or other source to prove my ownership at transfer, Comments appreciated,
If any of the surface owners are interested, let them do the checking and pay the bill. If they are interested, the surface owners will check it. if the surface owners are not interested find another buyer
I'm no attorney, but I will say that you can't deed off something you don't own. So be sure you own title to the minerals - Fee Simple.
Your offering might look more impressive if you don't retain the rights of ingress/egress. I imagine a landowner would want the right to prevent a company from permitting a well on their tract. CO might have laws governing this issue. I don't know.
To do it right ... I would seek the advice of a Colorado O&G attorney who also specializes in real estate law.
Good luck,
Pat
Quit Claim deed the minerals.
He'd be better off, FIRST, going to the courthouse (title run) to confirm the "90 plus year old former owner's claim" that ALL minerals passed to him when the ranch sold." A quitclaim deed warrants absolutely nothing. It only conveys the grantor's present interest in the land.
Like I said, you can't convey what you don't own. He needs to confirm that he owns the minerals he wants to convey.
Thank you
Pat
Before you spend any money, write the surface owners to see if they are interested. Do not waste your money on an attorney or landman unless there is an interest.
If you do convey, use a Deed without Warranty rather than a Quit Claim.
It might be worth it for peace of mind. Has anyone ever contacted you about leasing the mineral rights?
From the facts you have offered, and from what the elderly person told you, you probably own them. I don't think it would be that expensive to find out. You could go the quit-claim route. That would convey whatever interest you may own to the tract owners without warranting anything, but if you do own something, they would now be the owners.
Most people who own surface would probably like to have the mineral rights as well, especially if there is any leasing activity in the area. If nothing else, it helps them with the property taxes.
Bill,
Depending on location, mineral leases, geologic potential, city oil and gas regulations, title, and of course, your expectations, you may have enough net mineral acreage to put together a package that may be quite attractive to a long term mineral buyer or lessee. Determining what you legally own is your first need. How to turn it into cash is going to be dependent on degree of ownership.
Absolutely correct Gary ... determining what you legally own is your "first need."
A short story to prove my point ... I got a listing to sell some country acreage. The seller had been awarded this land in a divorce, and in three separate deeds totaling 206.6 acres. She had no survey to prove that she owned 206.6 acres, although she had been paying taxes on it for several years. I, literally, begged her to let me have a survey done so we couldn't be blamed for misrepresentation.
Finally, she agreed to have a survey done. Guess what? She only owned 149.38 acres. So, you see ... you gotta know what you own before you can sell it.
P.S The county taxing authority would only reimburse her for two years back taxes.
Good luck,
Pat