I have been handling leasing/selling of mineral rites for my mother in Hughes co. We have several tracks and trying to get them all dealt with ASAP. We are looking for some help to find out what all she has and possibly leasing or selling them. Recently leased out 3 of them but know of at least one more. 8-9n-10e. Hughes county is one I know of for sure. 20-60acres prob. If anyone interested let me know. ThNks
If you want to do it yourself, you can use TexasFile to find out what she owns; you’d just have to enter her name in the Grantor/Grantee box. From there you would want to track down any deeds, assignments, conveyances, etc. and then read the documents to determine what she owns.
An easier solution might be to use TexasFile to gather all of the documents I just described and then give them to an oil and gas attorney so he could do a title opinion. Using an attorney would probably be the best solution if there are many old deeds involved; those can be hard to understand and figure out what is being conveyed. You could also use the attorney to do the research for you if you feel you might miss some deeds.
Thanks Chad. That’s good info. We are in Oklahoma. Hughes county ok are where the minerals are. Do you know of any sites for Oklahoma?
You might try the MineralHolders Web site: http://www.mineralholders.com/oklahoma/hughes-county
There are quite a few owners listed on the page above. If you do not find your name there, however, I have a subscription to that service, so if I can be of further help, please let me know.
Thanks again Chad. Do you work in the oil and gas field?
Hughes county records are also listed under
okcountyrecords.com Easy to find names and small amount to download.
Slow down before you think about selling. You need to figure out what you have, whether you are getting paid on any wells and what the future drilling might be. There are quite a few horizontal wells in this township. This could impact your family for generations to come with revenue. Get informed first!!
Also, if you sell, your mom will have to deal with federal capital gains tax and OK income tax. If you wait until she passes, you will get a step up in value and a much more favorable tax situation.
Thank you M. Barnes. I have been dealing with few companies and have leased three of the four tracks she has. We just know there is a possibility of having more. I have just started researching and find this very interesting. I have always been told to never sell mineral rites and I can see why. Thanks for your feedback. I was just trying to get a grasp on what’s out there instead of finding out from company letters in the mail wanting to buy or lease. I will look at the info you have provided. Thanks and if you have anymore info on that area or anything it’s akeays appreciated. Thanks again!