My siblings and I inherited mineral rights in North Dakota from our Aunt. We really don’t know exactly where and how much we own until we receive a lease or division order from an Oil/Gas Company, currently have 8 and just recently signed more division orders with Hess. None of them are very large percentages of ownership. I don’t remember the name of the Landman in Minot, ND who handled the initial deeding over of our Aunts rights to us (they were split between me and my 3 siblings). He possibly has passed on as he was older when this transpired. My question is how do we find out exactly what we own and if we wanted to sell any of the parcels outright how do we go about doing so. Can anyone help with this. Thank you, Diane C
If you inherited, then the deeds should be filed in the county where the minerals are located. Or there may have been a probate filed that transferred the title. It should have what you own on it. The county repository is the official holding place. Many counties have their deeds online for the recent past. If you are receiving division orders, then the net place to check is to contact the Division Order Analyst and ask them for a copy of the paragraph of the title opinion that lists what you have. If they will not do that, then ask them how many net acres each of you have.
If you just received division orders, you may not want to sell right now because you are about to get paid on the wells and do you want to give up those royalties? If you sell, you may have to pay capital gains tax. First find out what you have, how much income is coming in and then come back with questions about selling. There are various ways to approach it.
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