Replies to This Discussion

Permalink Reply by po boy on August 18, 2008 at 12:43

There are a couple of lawyers on this forum this is a question for them. I am sure one will respond.

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Oil & Gas ProPermalink Reply by Randy on August 18, 2008 at 12:56

They have what is called "errors and omissions" insurance to cover this type of mistake. They are liable, of course depending on the type of title opinion you have and if you are indeed correct that they warranted mineral title.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on August 18, 2008 at 13:16

How did you find out that you didn't have the minerals?

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landownerPermalink Reply by kittycatmama on August 18, 2008 at 13:32

This is my parents property.The co. that was going to lease the land in July backed off of leasing it. They took title ins. when they purchased property, but it was just for value of the property--no where near the $400000 they are losing, but their closing statement says mineral search separately and they paid separately to have that mineral search done to be reassured they had minerals. This was long before the Haynesville Shale, but now it is a major issue.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on August 18, 2008 at 13:47

I kinda with you Jim, I have seen some very shabby work being done by some of these Big Boy Shalers. I would talk to the lawyer and see what he says.

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Permalink Reply by gary brannon on August 25, 2008 at 5:40

I take offense [just kidding] against calling that what some of these clowns are doing "work." I thought the Barnett was bad.........

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landownerPermalink Reply by Grice on August 18, 2008 at 13:31

You could file a misrepresentation case (civil) against the agent (or company) who performed the title search. This would not reclaim the mineral rights, as they were never yours to begin with. You might be able to recover is the cost of the services rendered by the agent. I also believe there is a 500.00 ceiling on the amount of money you could recover. In many cases, the amount of attorney fees would offset the recoverable amount.

I am not a lawyer, so this is just from a personal perspective.

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Permalink Reply by reg on August 18, 2008 at 15:18

you do have recourse under the errors and omissions policy of the title company. this is a common mistake that my clients are bringing to me. fortunately more companies have insurance to cover any mistakes, but Louisiana has stiff time periods for filing a claim. if you wait too long, then the claim is barred by the passage of time. you should call an attorney.

If the price of the minerals was within price you bargained for then you need to call an attorney.

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landownerPermalink Reply by intrepid on August 18, 2008 at 13:50

Did you buy title insurance on the minerals? Don't even know if that is available seperately but if you have it maybe they can pay something?

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landownerPermalink Reply by kittycatmama on August 18, 2008 at 14:25

It doesn't seem plausible, but it happened. Two titles were done: land ownership and mineral title search including going to DNR to check for units & pooling. My folks are friends with the attorney who did title, but they paid full amount for the title wk. and the mineral search. If they decide to do something, I would imagine he has e&o insurance to cover it. The problem is that losing the bonus is something that is easily calculated, but losing the projected royalties is another story altogether. How do you put a value on that?

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landownerPermalink Reply by kittycatmama on August 18, 2008 at 14:27

I need to ad that there was no production in their section for past 20 years. The old lease that is holding the production is from 1932!!!! It covers 4000 ac. of raw land.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on August 18, 2008 at 14:31

Did this property come out of a timber company?

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