I share an inherited 12.5acres of mineral rights. Never knew we had it until the landman found us. All the papers needed were submitted, lease signed. This being such a small piece of the pie, what would we need a lawyer for? Seems we'd pay them more than the well pays.
If the Oil Co has already given us checks for the lease, wouldn't the payments follow once the well produces, also be sent to us?
Sure could use some advice here.
Nancy, bonus payment doesn’t automatically equal royalty payment. You can have some cloud on your title and they may pay you the bonus, ( paying the bonus would seem the simplest way to show a moving consideration to validate the lease contract ) but they may want a probate done or other action taken before they pay you royalty. If the property is deeded in your own name and recorded in the county in which the minerals lie, you probably don’t have a problem. Even if that isn’t the case ( not recorded in your name ) you may not have a problem, but it would be up to the operator. Good luck.
Dear Nancy,
RW is giving sage advice. i have seen wells prouce to the mineral owner, over $1000 per month. This is your money and totally your deisision, In your case, the barn door is already locked. Bear in mind, in many cases, you can get representation once and it will go on forever.