Q: Recourse for title suspense error after oil and gas company merger impacting payments.
I had clear title to my oil and gas interests before two companies merged. However, after the merger, my account was placed in title suspense for 8 months due to an error acknowledged by the companies. They blamed the error on the merger but offered no additional compensation for holding my payments. I have documented proof of the error and clear title before the drilling of new horizontal wells. What recourse do I have for the financial impacts experienced, and how can I ensure compensation for their mistake?
A: In the absence of a written agreement to the contrary, you are entitled to 6% interest per annum for money that was not timely paid to you.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- (916) 704-3009
- View Profile
- Answered
A:
In this situation, you have the right to seek compensation for the financial impacts caused by the title suspense error. Since the companies have acknowledged the mistake, you should first request formal documentation from them confirming the error and detailing how it occurred. This will help you build a stronger case for any financial losses you’ve suffered.
Next, you can ask for compensation for the interest or missed payments due to the delay, as this was a direct result of their error. You may also be entitled to additional damages if you can show that the error caused you further financial harm or inconvenience, especially considering that the error lasted for eight months.
If the companies refuse to offer compensation or resolve the matter, you may want to consider taking legal action. With your documented proof of clear title and the acknowledged error, you could pursue a claim for breach of contract or financial damages related to the delay in payments. It’s important to consult with an attorney to determine the best course of action to ensure that you are properly compensated for their mistake.
Justia Ask A Lawyer is a forum for consumers to get free answers to basic legal questions. Any information sent through Justia Ask A Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between Justia and you, or between any attorney who receives your information or responds to your questions and you, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask A Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises, or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
