Replies to This Discussion

Permalink Reply by Iris on August 24, 2008 at 14:27

I thought a previous owner could only hold the mineral rights for 10 years unless of course there is a productive well....what would be the exceptions?

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Permalink Reply by kittycatmama on August 19, 2008 at 4:32

Then why are attorneys running mineral title and charging for it IF they are not responsible for their findings. I would think the state bar of Texas and LA would require attorneys to have e&9

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Permalink Reply by P.G. on August 19, 2008 at 4:36

E&O insurance is for their benefit!
Just because they don't have it doesn't mean they aren't liable.

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Permalink Reply by Nick Bellard on August 19, 2008 at 4:53

Do this quick, there is a strict 3 year peremptive period as to legal malpractive actions in Louisiana that began to run at the time of the original sale. While I have seen some silly mistakes made on title opinions involving such things as floodways the attorneys liability is limited to this 3 year period.

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Permalink Reply by kittycatmama on August 19, 2008 at 8:13

My parents have ruled out suing; however I think they will file on his e&o which the attorney has never mentioned. Is e&o for title attorneys required in Louisiana?

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Permalink Reply by Nick Bellard on August 19, 2008 at 8:46

It is not required by law, but no title insurance underwriter will authorize an agent without it. So, practically speaking if the guy was an authorized agent of a title underwriter then he has E&O coverage. The amount depends. Stewart title requires at least $1 mil, while other companies go as low as $250,000.

It is fine that they have ruled out suing, but realize that if the E&O company deals in bad faith and then after the tolling of prescription, has yet to pay you a settlement, they can stop dealing with you and there is no recourse on your parents part.

I would suggest filing a suit just prior to the prescriptive date if no settlement has yet been reached at that date, just as a means of insuring that prescription does not destroy the claim.

Permalink Reply by kittycatmama on August 19, 2008 at 12:40

What would keep the e&o co. from paying? Also would they just pay the lost amount of up front money or is there anyway to recover any projected royalty amounts. Their land is in a hot area, so we believe, but can't prove, that there will be royalties

Permalink Reply by Landowner on August 24, 2008 at 14:49

I am curious, You said there has not been production in 20 years, and you also said the lease is from 1932. Why wasn't the land released from this old lease? I know there is not something I am understanding.

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Permalink Reply by kittycatmama on August 24, 2008 at 15:20

There is production in the pool created by the original lease which covered a lot of land & several sections, but not in the specific section. The initial lease was for land in several sections. The lease says land is pooled. It was not recorded at DNR, but one attorney said units and pools can be created by contractual agreement in the original lease and that Louisiana Mineral Code recognized that. Also we can't find a 10 yr. break in production in wells in that original lease

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Permalink Reply by Landowner on August 24, 2008 at 15:54

Since you had this problem, it has made me begin to wonder. I have had my land for 15 years. I leased the land back in 1999, but drilling did not follow. I am under the opinion and hope I am right that I own the minerals or they would not have leased my land back in 1999.

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Permalink Reply by Kassi on August 24, 2008 at 16:03

You can not be to sure. Many people in our section have leased before. We found out this week however, that a lease from 1955 is still holding the land in production. The prior leasing agent did not go far enough back on the title search. They only went 20-30 years back instead of doing a complete search to the first transaction so they missed the 1955 mineral lease.

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Permalink Reply by Landowner on August 24, 2008 at 16:10

So, how do I determine if my land is free?

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