Can anyone tell me is the area I have inherited has had any drilling activity?
Dewey Co. section 19, T 18 N, R 15 W.
Is that in Oklahoma?
If so, I don't see anything new in the last 5 years.
Yes it is in Oklahoma. The person from whom I inherited it had leased it to a group, Concho Land, in 2010 however this agreement has expired.During this time she heard nothing from them.
Do you know how I would go about selling my mineral rights?
Was the estate probated, transferred to a trust or by deed, or did the person just pass and you would be the apparent heir?
How many Net Mineral Acres are you talking about?
Do you have documentation of any of the transfers through the title history?
It was in her will, The lawyer is sending me all paper work I will need to transfer ownership.
I have a copy of the contract she signed however it does not mention the net mineral acres. It does mention a number plus tolerance.
I think I will have to come to Dewey Co.
Rick Howell said:
Was the estate probated, transferred to a trust or by deed, or did the person just pass and you would be the apparent heir?
How many Net Mineral Acres are you talking about?
Do you have documentation of any of the transfers through the title history?
Are you working with an Oklahoma attorney?
Not yet. The mentioned Lawyer is in Pa. where the person lived.
The only correct way to transfer the Oklahoma rights is by also probating the estate in Oklahoma. Most of the "quality" buyers will not touch it without marketable title being established (or price accordingly so they can probate it). It is possible to sell with a affidavit of heirship, but there are many issues and risks for the buyer.
Correctly conveying the rights, and full documentation of the history of the transfers (similar to an abstract), and amount of minerals involved will go a long ways toward maximizing the price obtained.
If it is a very small amount, you may be better off sitting on them until interest develops in the area before selling.
Thank you for all the information. It looks like I need to find a Lawyer to meet with when I come out there.
Rick Howell said:
The only correct way to transfer the Oklahoma rights is by also probating the estate in Oklahoma. Usually this is by a summary probate. Most of the "quality" buyers will not touch it without marketable title being established (or price accordingly so they can probate it). It is possible to sell with a affidavit of heirship, but there are many issues and risks for the buyer.
Correctly conveying the rights, and full documentation of the history of the transfers (similar to an abstract), and amount of minerals involved will go a long ways toward maximizing the price obtained.
If it is a very small amount, you may be better off sitting on them until interest develops in the area before selling.
Rick, I went to the okcountyrecords.com site and did find where she has it leased.