We signed paperwork 230 days ago to sell our mineral rights. 100 days later they sent a 3% check as good will while they checked out if we lawfully owned the mineral rights. according to our lawyer we do own them according to Ohio law. Is 230 days normal for this to not be finalized and they take ownership?
If you signed a deed, you may want to double check to see if it has been filed with the land records. Sounds like a long time to be held in limbo. Depending upon your agreement you may want to cancel the sale or give them a deadline. Use an Ohio attorney.
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I work for a Mineral Purchasing LLC and we normally pay within 30 days, as long as the Title is run and clear. If you signed the Mineral Deed, I hope you still have the original.
We do have an Ohio lawyer. We have contacted the oil company’s rep. He told us not to contact him as he would only speak thru our lawyer. We did ask our lawyer if we could back out and he said no. Plus we tried to add a deadline to no avail. It’s like we are in holding forever. And at their mercy.
My family contacted a lawyer in NM to clear up our title requirements for mineral rights owned in 2022. We are still fighting with Coterra to pay out our funds in suspension. It’s been a nightmare.