Are trying to buy my rights for the property in Oklahoma. I don't know how much it's worth and I don't know how to find out. What kind of lawyer should I talk to and should I find one here or in Oklahoma? Thank you
Be cautious when dealing with companies who want to purchase the minerals. Often purchasers know much more about your minerals than you do. For example, they may be aware increased development in the near future. Also, they will typically want you to warrant title which means that you may have...Read more »
Unless the interest is held in a trust, corporation, LLC, or other entity requiring both of their signatures, your wife can sign the lease for her interest without her sister's signature. If her sister doesn't sign, the oil company can force pool the sister's interest in a force...Read more »
Whether the term interest continues past the 99 year term is dependant on the exact wording in the instrument which created the interest. There are fixed term interests. For example "for a term of 99 years." And there are interests which continue for as long as there is production from...Read more »
My great aunt died intestate with oil interests and royalties. She died a widow with no children. She had 3 sisters and one brother. Her estate was resolved and the oil interests and royalties were paid except to one branch of her heirs - her one sister who is my grandmother. My grandmother died... Read more »
This is not a question that can be answered or resolved on a free online forum. You will need two Oklahoma attorneys who can help you with this - a probate attorney and an oil and gas attorney. If you would like some recommendations, write to me directly at firstname.lastname@example.org and I can...Read more »
You need to do a probate of the estate. This is because mineral interests are an interest in real property and to pass marketable title you have to have to probate of the estate. The affidavit of heirship is for severed mineral interests and is a method to obtain marketable title if the affidavit...Read more »
The liability of the law firm could depend on a number of factors that are not revealed in your question: The nature of the mistake and how it occurred. Any complicity in the mistake by your mother. How long ago this happened. The relationship between the firm and the attorney. If you...Read more »
You would need to research the land records covering the land, which are found in the county clerk's office of the county where the lands are located. Oil and gas titles can be very complicated. You could hire an oil and gas attorney or an oil and gas landman to do the search.
My deceased relative was force pooled on Day 0. This triggers this OK Statute for the holder, the mineral owner's heir and the State of OK. The holder is supposed to try and find the heir for 365 days. OK butts out except to require reports and an escrow account for funds due the owner. In my... Read more »
Interests in oil and gas are interest in real property. The transfer of real property is governed by the laws of the state in which it is located, not where the deceased or owner is located. Regardless of whether the monies are held by the company pooling the interest, the Corporation Commission,...Read more »
My uncle died in Oklahoma several years ago, never married, had no children, left no will, and had oil rights. His brother, my father, is also deceased and left 4 children (I'm the oldest). How much would it cost to settle this estate? Marathon Oil (Houston, TX) has this account and... Read more »
The answer depends on many factors, but it sounds like you are probably looking at a joint probate of two estates if you want to legally transfer the minerals from your uncle to your father's children. That being said, bear in mind that if there are liquid assets in the estate (like royalty...Read more »
Correct deed on file since 2006. Probate not the problem. No other oil companies have had this problem with having the right mineral deed to work from. Do they owe us the 12% penalty from date of first sale? How do we get them to pay? Do we have to go to court?
You need to find out from the company whether they have any title requirements that need to be fixed. If you believe that you have clear title send them a certified letter with an IRS W-9 along with your address. Companies are unlikely to pay 12% interest unless they are pressed. If there is an...Read more »
Do they pay 12% for the nine months or only the 3 overdue months? They were trying to use an old title that was not current. I consider this their responsibility to have the correct title as it is easily available. Is this correct? This is for 6 new wells. I am still waiting on my first check.
In Oklahoma, operators are required to remit payment within six months from the date of the first sale of production. Failure to do so can trigger late interest payments pursuant to 52 Okla. Stat. § 570.10. You are correct that if you have marketable title, you are entitled to 12% interest on late...Read more »
If the lease is still valid, either because it is in its primary term or has been extended into its secondary term due to production on it, then the lease is still good and the company (and your dad's heirs) must honor it. However, in such a situation, the oil company can escrow any royalties...Read more »
oil leases. it has gone through the courts and the judge has signed off on it. they have 4 years of money from one of the leases. I cant it them to answer my calls or sign anything over or even give me the name of the oil companys. do I need a lawyer ?
As a general rule, at the completion of a probate proceeding in Oklahoma the district court will enter an order that all assets remaining in the estate be distributed to the heirs-at-law if there is no will or to the legatees/devisees if there is a will. If there was a probate proceeding you should...Read more »
I need to know the best way to save my producing wells which is my only income from getting shut down by Oklahoma Corporation Commission because they are making me clean up a huge salt water mess. I have proof my leak could not have caused the amount of contamination that has been found. My leak... Read more »
Pipe runs straight down property line with 25' just for access easements on each side. Now there is going to be a turn on to my property about 3 to 4 feet in towards my property from NW corner. This will change easement agreement, pushing into my property. I was never notified and they are on... Read more »
If I understand your question and facts, your stating that the new pipe line will be on your property outside of the established easement which would require your consent otherwise you would be entitled to some compensation or a removal of the pipe line back within the easement already established....Read more »
Parents didn't give permission for anything listed in the minors name to be conveyed or sold. Grandparents listed themselves as custodians. Conveyed everything to themselves from the children.Grandchildren never received anything on the oil and gas revenues.
I wrote "Disputed" on the Division Order and sent it back after inheriting a portion of the lease. Producer (Butkin Oil) takes 80%, by their own admission and won't say where the other 20% goes. My owner interest is less than .002%. It also appears that I am paying state taxes for... Read more »
Oil and gas law is complicated. The operator typically has the lion's share of the revenues because it pays for all the expenses and therefore has all the risk. If they spend a million and the hole is dry they eat all of the cost. However, a royalty interest owner pays nothing.
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