Anybody have time to answer some questions about rural acreage?

[NationalMatch]

It's a 200 acre parcel in rural Oklahoma. The owner doesn't have the answers about questions of mineral rights. There are no pumps on the property at the present, but how does one go about finding out who owns the mineral rights? Is that a big deal? (Seminole County) I'd hate to build on the property and Deathwish Oil exercises mineral rights where the kid's playground would go.

Also, there are 40 acres undivided. The owner of the above mentioned parcel owns 20; another person owns 20. The other person refuses to sell, but has bequeathed the land to her children. Dunno if they'd sell. I'd hate to build on the 200 and her heirs put in a pot farm. Or mobile home. Or both.

Concerning undivided land, I had read that the issue can be forced by one, or the other, parties. One retains an attorney, there's an appearance before a judge, the judge orders the land divided, etc.

Anyone here familiar with the above issues? How many ways could the whole thing go south?

 

[Okie4570]

County accessor and a Landman.

 

[NationalMatch]

County accessor and a Landman.

Assessors determine tax rates. How do they factor into this discussion?

And the Landman is a middle man working for an oil company as liaison prior to exploration.

I want to know how to find out if the property conveys the mineral rights or if they've already been sold.

Thanks for the response.

 

[dlbleak]

Corporation commission?

 

[2busy]

I would not buy any undivided land. Especially if it is being handed down to someone else's family members. All the parties involved with it will need to split it and have the legal descriptions recorded. Guess what, nobody will want to get the worst part of it in the split.

Having multiple owners means all the parties involved has partial ownership on every acre in that legal description. Skip the land that has other owners on the deed. In the end it will be a never ending battle. Because you can't just say this half is what i'm going to use and you can use that part over there.

 

[rickm]

You can go to a title office in the area and request a title search and it will tell you who owns the mineral rights and as far as them putting a well next to your kids playground equipment i believe they have to stay several 100's of feet from a dwelling to drill.

 

[CC379]

undivided land or undivided royalty?

can't imagine buying undivided land

 

[turkeyrun]

Title company

Mineral rights should be clearly expressed in the deed and in the sale.

Even if you don't have mineral rights (very few land sales do), you have trespass rights. They will have to pay for trespass and surface use.

No wells around, you most likely will never have any.

The undivided parcel can get messy, between those parties involved, not you.

Pot farm, etc; it is their property. You have no say.


I found 160 acres in wanted. The owner had passed and left it too his 4 kids. Not one wanted the land. The 2 older sons have a business in a neighboring county.
I made a cash offer of $125k. Divided 4 ways, ~$3+k each. They accepted the offer and contacted the other 2. The youngest son is the town drunk, destitute and was eager to sell. The sister lived in NYC, had not been "home" in 15 years, had no interest in the land, BUT!, she refused to sell.

The brothers forced her into court and Judge ruled "sale it public auction"

I bought the land at auction for $160k.

Talking to oldest of the brothers, a month later, he says, "I'm so sorry, you ended up paying more. After plane fares, hotels, lawyers, court costs, auction fees and realtor commission; my sister cleared less than $8 grand. We each got a little over $15k. That byotch is a f*****g genius!"



IF you want the undivided land, make an offer and have them talk to her kids. If they aren't interested in the land, but them cash; they can try to get her to sell.
Other than that, stay out of it.

 

[Okie4570]

Assessors determine tax rates. How do they factor into this discussion?

And the Landman is a middle man working for an oil company as liaison prior to exploration.

I want to know how to find out if the property conveys the mineral rights or if they've already been sold.

Thanks for the response.

They have access to everything you asked for. There are no "unsold" mineral rights anywhere, someone owns them lol.

 

[trekrok]

Insofar as the minerals, you'd need to have a landman examine the title from sovereignty. Or you could pay an attorney to do so, but it will cost more. You could get a hint of who owns some of the minerals by looking at who has executed o&g leases. That's by no means a guarantee, but might be worth a look.