Hello,
I'm new to this site & also to the whole of the Leasing of land etc! The reason being I was left some shares by my late Aunt, which " straddle" both Rusk & Panola Counties.
I only learned about these shares some weeks ago, when out of the blue I was contacted by a Landman who asked if I would Lease out to Andarko?
After some mails back & forth, I agreed.
What he couldn't help me with though, is wether or not my late Aunt Owned the land?
Can anyone advise me in this?
Your Laws in the U.S. are so different in this area than here in England.
Thanks in anticipation
Stesal

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Replies to This Discussion

It's great to receive a call like that from a landsman! May I ask what you leased for per acre?
It's very common for a person to keep the minerals so your aunt probably didn't own the surface anymore; I think you would have received notice about that especially if you had inherited it.

Hello Kaki,

It was more Shock than anything else? lol I leased the land for $500.00 per acre x 3Years, + 1/8th of anything they may get? also a 2 year option. I believe this to be the going rate? All the people who i have dealt with appear to be very Professional, & also nice people.

I was told that this Lease i inherited was for Surface? I asked if she actually oqwned the land, but, they didn't know? I could really do with finding this out, but, unlike here it would appear to be more complicated?

As i'm sharing this with 7 Cousins, the money doesn't mean much, it's the fact that my late Aunt had anything like this i find fascinating.

She died in 1996, yet we only got to know about this lease a few months ago? Is there any way i could find out IF some other energy company has leased this since 1996 & up to now? I realise that after 3 years if unclaimed the State of Texas would inherit any monies, i'm, not bothered about that, just if any other company has leased it?

Thanks

Stesal.

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