you really need to know what you are doing. I used to be an abstractor and it takes time, you could hire any abstractor to do your search and it wouldn't cost you 1000 dollars if you want the title certified that's where you get into the big bucks.
oil, gas, and mineral right search question
Anyone know where to start a search? Or where it would be recorded? Attorney wants $1000 to do the search.
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Gas, Oil, and Minerals Risghts will be called out on the property deed... "IF" they are not called out on the deed... you own them! If someone else has any rights to your gas, oil, or minerals on your property... their name will be on the deed.... Good Luck!
Would your county seat have these records? Or records of any transactions pretaining to the sale of rights? Just an idea. Curious myself.
Tuna, this is not a do it yourself project. $1k includes a lot of gravy for the attorney.
What county is the property located in? I would start there.
What county is the property located in? I would start there.
only if you search the property back..... some deeds say except and reserve prior exceptions then you would have to search it back till the minerals and or gas was severed any good abstractor can do it to let you know where you stand but it wouldn't be certified till an attorney reviews and signs off on itToothHunter said:Gas, Oil, and Minerals Risghts will be called out on the property deed... "IF" they are not called out on the deed... you own them! If someone else has any rights to your gas, oil, or minerals on your property... their name will be on the deed.... Good Luck!
Most of the time this is true but sometimes the rights were held years ago and only a search will tell you that, When they leased our property they told us they searched the deed 30 years but when they drill they searched back 100 years and there have been a few cases in our area that they found out they didn't own the rights even though the 30 year search showed nothing being held. not the kind of news you want to hear.ToothHunter said:Gas, Oil, and Minerals Risghts will be called out on the property deed... "IF" they are not called out on the deed... you own them! If someone else has any rights to your gas, oil, or minerals on your property... their name will be on the deed.... Good Luck!
Did anyone do seismic testing on your property or in the adjoining properties? The seismic company (GeoKinetics) that did work in this area had a map that showed ownership of mineral rights. They were aware of properties where the mineral rights were detached from the surface owner.
You could probably research the deeds on file for your property at the county courthouse. You'll have to follow all the clauses in the deed referring to clauses or covenants listed in other books, such as Platt Books, at the courthouse to see if there is mention of items not specifically spelled out in your deed. There are circumstances where the mineral rights were detached from the surface rights over 100 years ago. Most real estate title searches only go back 65 years. If the property was sold in a Tax sale or Sheriff's sale the owner of the subsurface rights would have to reassert their rights. I think it's within 5 years of the sale, otherwise they revert to the surface owner.
It gets to be pretty complex and a lot of the subsurface rights are owned by big money so it will involve litigation to resolve.
You could probably research the deeds on file for your property at the county courthouse. You'll have to follow all the clauses in the deed referring to clauses or covenants listed in other books, such as Platt Books, at the courthouse to see if there is mention of items not specifically spelled out in your deed. There are circumstances where the mineral rights were detached from the surface rights over 100 years ago. Most real estate title searches only go back 65 years. If the property was sold in a Tax sale or Sheriff's sale the owner of the subsurface rights would have to reassert their rights. I think it's within 5 years of the sale, otherwise they revert to the surface owner.
It gets to be pretty complex and a lot of the subsurface rights are owned by big money so it will involve litigation to resolve.
lawyers want properties searched back to 1850 before the discovery of oil and gas to be sure the oil and gas wasn't separated from the property.
update, found out the landowner(friends mom) has the rights. they are still attached to property. She has a lease that started in 2010 and goes to 2015. Waiting for my friend to send me copy of lease. gonna forward it to our attorney who is handling writing the agreement and settlement. O/G/M rights to be included in property purchase.
just an fyi you are bound by the terms of the leaseTunatime17 said:update, found out the landowner(friends mom) has the rights. they are still attached to property. She has a lease that started in 2010 and goes to 2015. Waiting for my friend to send me copy of lease. gonna forward it to our attorney who is handling writing the agreement and settlement. O/G/M rights to be included in property purchase.
yes, that is fully understood, but the rights, and current lease terms(which expire in 2015), are going to be included with our purchase.
If you want to sell the oil and gas rights I am interested. Do not know the situation just offering.
Most leases have renewal terms in them. Most are 1 time automatic at the last payment unless there is a well put in the payout area. Then royalties start or the well is capped & a different payment is included for that. Read the renewal terms.Tunatime17 said:yes, that is fully understood, but the rights, and current lease terms(which expire in 2015), are going to be included with our purchase.
Most leases have renewal terms in them - True. Most are 1 time automatic at the last payment unless there is a well put in the payout area - At the gas company's discretion. They are not required to extend the lease under the terms in th elease. The can let it expire and negotiate new terms. This is the most likely course because the value has dropped considerably for many reasons. Few leases will be extended at the old terms from the 2007 - 2008 booms.RayRay said:Most leases have renewal terms in them. Most are 1 time automatic at the last payment unless there is a well put in the payout area. Then royalties start or the well is capped & a different payment is included for that. Read the renewal terms.Tunatime17 said:yes, that is fully understood, but the rights, and current lease terms(which expire in 2015), are going to be included with our purchase.
Found out the rights to our property were severed in the 1930s and went to a corporation that is no longer listed in PA as of 2009.
Prior to that year, it was listed with the Dept. of State as an active corporation. I have yet to sort out what the "successor" corporation is, if any.
Prior to that year, it was listed with the Dept. of State as an active corporation. I have yet to sort out what the "successor" corporation is, if any.
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