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I hope this is not a repeat of my prior question ( seemed to have lost it ). Regarding title to property, if I signed a O and G lease but am involved in quiet title action which I started on a piece of land due to relatives coming out of the wood work. Will a quiet title action normally cause problem when the title search is done or will they rely on the present holder of the title and let the parties in dispute settle any their own differences. For instance, if Exxon comes I sign a lease with them but am in court with my 2nd cousin who is making an absurd claim that he owns part of the land, it seems to me exxon would only care that I am currently the owner ( not being an atty of course ). If later it is found that the cousin owns 50% well thats between me and the cousin right?
I have a variety of things on this but not from an atty. One friend actually has 100 acres that are in bankruptcy and it has two liens on it. One from a real estate company and one from the bank yet the O and G company still went ahead with the lease and all parties, including the bankruptcy judge don't mind. The money was paid to my friend but of course the court knows about it.
I simply don't know what the O and G companies really want on their search. A pristine title search everytime or will they accept some things that are less than perfect as long as you are currently the owner. Title disputes could come along at any point before, during and after signing a lease so how could Exxon or any other company get involved in every case that comes along? Thanks much.
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