You are here:

Oil/Gas/sale of mineral rights

Advertisement


Question
Approximately 2 years ago I "sold" my mineral rights to my estranged aunt. At the time I needed cash terribly for outstanding debt. I trusted her to be honest, without doing ANY research myself on the current rates/prices. I feel like I was taken advantage of and would like to know if I can reclaim the said mineral rights.

The homemade bill of sale/ transfer of ownership was NOT signed and notarized in the county where the land is.

I sold the mineral rights for approx. $40.00 acre. ( Walker County, Texas)

Is there a way to reclaim them?

Thank you for your time.

Sincerely,

Holly Sandlin

8325172036  cell

Answer
If you accepted money for something and now want to change your mind about sale it would seem to me that you should offer some consideration back at a minimum. Now I am not a lawyer, but if it was not a legal sale (recorded in county / state of lease/well location) then a title search would probably still show you as owner. Yet you still sold this at the time in good faith. Has there been production? Do other entities believe your buyer is legal owner? Have they been paid as result of your sale to them? This does sound "sticky" any way you look at it. Your knowledge now vs. your needs then are a hard issue to balance. It may be more a moral than legal question. Perhaps consider a joint ownership and honesty for your approach. Or maybe a life estate where you benefit for your life and they take it after. These are just some thoughts. You probably need to think on it some and may wish to consult an attorney or at least review some conveyance forms for information.  

Oil/Gas

All Answers


Answers by Expert:


Ask Experts

Volunteer


Jason J. Alexander

Expertise

I can answer oil and gas division order questions. I am most knowledgeable about as the purchaser side of the oil and condensate production. I can offer suggestions regarding probate and basic transfers of working, override, and royalty interests. DISCLAIMER: I am not a lawyer. I have seem and know what my company for instance accepts pertaining to these matters. Being from the purchasing end (and not the operator side) I do not have much experience with calculations or valuing property or minerals. I do not deal with acquisitions, exploration, or development of leases either.

Experience

I am a Division Order Analyst with a crude oil purchaser. I have worked in the division order and customer relations departments for the past 9 with a first purchaser. My company purchases and transports oil for operators and we make revenue distributions on their behalf. I analyze division order title opinions, prior purchaser pay sheets, probate, and other conveyances related to the set up and modification of pay decks (divisions of interest) in leases (wells) of oil around the county. I have been involved in the set-up of our contract pay leases in conjunction with our marketing and regulatory departments.

Organizations
HADOA: Member, 2013-2014

Education/Credentials
HADOA: March, 2014 Seminar The Land Department: Division Order Analyst Training Course, 2011 & 2007 NADOA 2010 Conference Land Focus: Fundamentals of Leases & Title Ownership, 2006 Northwestern University, BS Communications

Awards and Honors
Eagle Scout Award

©2016 About.com. All rights reserved.