What does "this interest has been suspended pending completion of title work" mean?
The owners of big plots of land around my own are already getting royalty checks. I emailed Goodrich and asked about the status of my royalties and was told that "this interest has been suspended pending completion of title work". I would like to know exactly what that means.
I am new to the site and to this type of discussion.
PS. I did a search and couldn't find this string in the forum so hopefully it's not a duplicate.
I am new to the site and to this type of discussion.
PS. I did a search and couldn't find this string in the forum so hopefully it's not a duplicate.
Views: 131
Replies to This Discussion
-
Permalink Reply by reallyoldguy on
-
This sounds like question for Jffree1...
-
Permalink Reply by Parkdota on
-
Means you aren't getting paid until they know for sure your the one that's suppose to get paid via title work.
-
Permalink Reply by Admuzic on
-
Ahhh. I gotcha.
Thanks for the info. I guess it requires more than the legwork that was done to secure the lease originally. And apparently this can take a while. Is there anything I can do to speed them up?
-
Permalink Reply by Skip Peel - Mineral Consultant on -
Admuzic, if it was me I'd send an email to the appropriate person acknowledging that you would like an estimate of the time to complete your title and with an offer to help answer any questions the title examiner may have.
-
Permalink Reply by adubu on
-
admuzic---- are your minerals in Texas or La.? You could go to the court house and run through all the deeds that the property changed hands, all will and testament of all heirs, looking to see if minerals where reserved by your family. You should be able to obtain copy of run sheet the landman used to lease your minerals or ask the title attorney from Goodrich to share the info they have and where is the problem to see if you can help them as Skip suggested. If you have lots of acres of minerals in question and big $ of royalty you can get a title opinion done on your own to appeal their title ruling if you disagree with their finding. However most operators have excellent title attorneys and their final ruling are close to if not always 100%
-
Permalink Reply by Admuzic on
-
I am in Shreveport, LA.
I emailed them with the recommendations above and they seemed to be pretty tired of hearing from me.
I own 3 lots in a subdivision of 20 acres. My dad owns 15 of the acres in the subdivision and has already gotten a royalty check. When I mentioned this they said that nobody in the subdivision had gotten royalties yet. The said that I should check back with them in 30-60 days.
I know for a fact that two wells are producing in that section. One started producing in April and the second in May. I guess I don't own enough land to rate any more information from them.
-
Permalink Reply by new guy on
-
usually the royalty payments are 90 days in arrears, so it make sense you would be looking for april, but may wasn't due until yesterday. can you confirm it was a royalty check? if so use the number, amount and any other pertinent data contained there in to pursue the matter. it's your money. call and arrange a personal visit.
-
Permalink Reply by adubu on
-
Admuzic-- if you have clear title to the lots and minerals then you will in the end get all royalty due you plus interest. Goodrich is required to place the royalty money in escrow until title question resolved. If you can run the title back 10 years then you can send them the documents certified mail. They didn't get your 3 mingled with your father's? Who owns the remaining 2? ( you 3 plus your fathers' 15 of the 20)
-
Permalink Reply by Admuzic on
-
I don't think they got the lots mingled. My dad's part in the subdivision was issued under a company name.
My dad bought the land and started the subdivision a while back and didn't keep the mineral right for the first few lots.
It is also interesting that our church sits adjacent to the subdivision and they have gotten a royalty check also. I'm not too worried about it, but it is frustrating that it is nearly impossible to get any information from them at all.
Support GoHaynesvilleShale.com
Top Content
Blog Posts
The Lithium Connection to Shale Drilling
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
Not a member? Get our email.
Groups
-
San Augustine, TX
386 members
-
Miller County, Arkansas
27 members
-
Sabine Parish, LA
455 members
-
South Caddo Parish Group
440 members
-
Natchitoches Parish
400 members
-
Bienville Parish, LA
244 members
-
Fayetteville Shale
149 members
-
North Caddo Parish
358 members
-
Central Texas Gas
63 members
-
Cass County, TX
119 members
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
