Replies to This Discussion

Permalink Reply by JK on February 14, 2013 at 6:18am

Give us some details.

Permalink Reply by Cynthia Greenleaf on February 14, 2013 at 1:20pm

Said my Great G grandfather owned it 1908. Says its 85.065 net acres and mine is .0019 and has a 500.00 sign bonus and is in paw paw district Marion County WV. I don't understand any of it I don't mind selling but have no idea what I am signing

Permalink Reply by Kyle Nuttall on March 20, 2013 at 5:14am

So you inherited about 0.16 acres of oil and gas interest.  You should team up with other family members.  They should have been approached, too.  You can get better terms, and maybe a better bonus if you do.  If you want to go crazy with genealogy, you can trace all of your great-grandpa's descendants and team up with them.  That will take a huge amount of time, though.  I know because I used to work as a landman.

Whatever you do, make sure to get a No Warranty of Title clause, and and Indemnification clause.  Those will help to protect you from future legal issues.  Not that anyone can predict what will happen in the future, but those clauses will certainly help.