Replies to This Discussion

Permalink Reply by Suzy on June 26, 2015 at 3:41am

Thanks to both of you. There is similar language in loan documents when one buys a house to fix any typos etc. (in Arizona, Realtors are like attorneys and we write legal contracts etc. ). Triad Hunter has the wrong parcel number and that is legally more than a typo. It is the wrong piece of land.

So it seems I wait for paperwork coming from Antero and do not sign the parcel change from Triad before Antero actually acquires the Leases?

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Permalink Reply by Peg Murdock on June 26, 2015 at 4:11am

Just so you know.  My deed stated we had 101.15 acres all the way back to the beginning of time!

This new surveyor that surveyed this week was the one who found out that we really owned a 104 acre farm instead of a 101.15 acre farm.

Antero must have just gone with the deed acreage instead of doing another survey.  So, of course, they assumed it was correct, as did we.  peg

 

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Permalink Reply by Suzy on June 26, 2015 at 4:53am

Thanks Peg. Acreage is kinda like square footage in a home. The Builder says it is one amount and then years later one has an appraisal and it is different. Typical and acreage is probably similar. Data only as good as the input.

Thoughts on the wrong parcel number? I guess it could be a typo ... 10 and 11 ... one stroke. Both parcels are 25 acres. Thanks as always.

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Permalink Reply by Nancy Mosley on June 26, 2015 at 6:37am

Do you have the background info on these parcels? Deeds traced back? Info on surface ownership? Tax map to see what these parcels look like? If so, then it looks like there should be a corrective lease. I guess there is such a thing. I have seen corrective deeds.

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Permalink Reply by Suzy on June 26, 2015 at 6:55am

Thanks Nancy. I told the guy from Triad Hunter to send me both deeds to show ownership. He said he mailed them to me. I'll read them. I'm kind of thinking to wait for the request to sign to come from Antero rather than Triad? From all the conversations it seems Antero comes in and also cleans up any mistakes anyway. Triad guy said Antero requested ... maybe ... or not? Probably comes down to what Antero wants?

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Permalink Reply by Nancy Mosley on June 26, 2015 at 4:15pm

Sounds like Antero has the most to gain from a correct lease. Worth checking it out.

I forgot if these tracts are in Tyler, and if you know how to view the deeds in Tyler county. If you need a reminder on that I can help.

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Permalink Reply by Suzy on June 26, 2015 at 6:56am

You are all so great!! Much appreciated!!

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Permalink Reply by Suzy on June 26, 2015 at 5:16pm

Hi Nancy. Yes I remember you gave me those instructions. I am assuming I saved your email In your folder. I will check and if I was remiss I may ask you for the details again. It is in Tyler County. Thank you for reminding me.

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Permalink Reply by Barry D on June 27, 2015 at 2:42am

Suzy,

Antero may know about the issue with your lease (I assume you mean lease when you say deed).

As part of the purchase agreement Antero may require Magnum Hunter/Triad Hunter to correct imperfections which have been found.

I don't believe you need to sign a completely new lease. They can have you sign a correction agreement that references the original lease and the correction that is being made. This can then be filed in the courthouse. I would be leary of signing a new lease. Like a lease, the wording of the correction agreement is critical so as to only make the correction and change nothing else in the original lease. Review by an attorney would be wise. I am not an attorney and offfer this info as my opinion only.

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Permalink Reply by Suzy on June 27, 2015 at 6:38am

Hi Barry. Thanks for jumping in. I meant Deed since the Deed shows Ownership of each parcel number. And, no I won't sign a new Lease from anyone without major due diligence. What I expect to be coming from Triad is a very simple Addendum just changing the parcel number. Then the 'legal' phrase:
All Other Terms and Conditions to Remain the Same.
Any other verbiage is not acceptable. In Arizona, we Realtors play the role of attorneys. We have lots of training etc and attorneys don't get involved with real estate transactions ... maybe some Commercial. The AZ Dept of Real Estate drives the train with their rules and documents.

Nancy gave me a website to check deeds and ownership.
You all have been so helpful with details. It is so nice to have a Sounding Board for questions.
I think I want to see Instructions coming from Antero to direct Triad to ask us for the change. You all have been so valuable.
Thank you again.

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Permalink Reply by Suzy on June 27, 2015 at 7:57am

Thanks Anne. I am in Arizona and don't have an attorney in Tyler County. When we all signed the original Leases it was done via mail. I think there are 20 or so heirs, in ownership pieces and parts, all over the country. Sue Paden is one and lives right near the land and ran the original stuff through her attorney. We all kind of piggy backed. It's tough being so far away. I'm calling Sue this weekend to see what she knows.

Do you like Antero? They seem to be a company that actually drills? Anyone actually making any money yet? I'm hoping for something happening in 5-10 yrs.
it would help a bit with retirement funds. Every little bit helps. Thanks Anne.

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Permalink Reply by The Hiker on June 27, 2015 at 11:20am

Suzy:   Antero drills (take a look at their company website).  I like them; so far they have been forthcoming with information about their activities and open to answer questions from landowners.  We have made lots and lots and lots of money from royalties, even though the price of oil/gas is low.  They seem to be the best of the bunch.

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