[karibear]

I just discovered that my father inherited part of what was apparently family mineral rights. My father died in 1960, and we just got a letter offering to buy our rights for 50.00! At least, I got a letter, my sister got a phone call, and my brother hasn't heard anything.

My real question is what would have happened to the royalties for the last 49 years? It's not like there weren't other family members in the state, or that no one had an address for him or knew how to contact him. Anyone else ever hear of a situation like that? And why on earth would it become an issue after 49 years?

[VeraBlue]

It's possible no one was leasing the rights for that long. It depends on the size of the parcel and the location.

[debbie at bouontiful]

Mineral rights are worth certainly more than 50 dollars. In my area there worth more than the land.

[karibear]

Originally Posted by VeraBlue

It's possible no one was leasing the rights for that long. It depends on the size of the parcel and the location.

It's pretty small, an area about the size of a large city block total - definitely less than an acre. It's in Atoka County, and if we lease instead of sell, we get royalties as long as the Daisy Upper Stanley unit produces. Obviously, it's in production now, so who's done what with the royalties so far?

[VeraBlue]

Originally Posted by karibear

It's pretty small, an area about the size of a large city block total - definitely less than an acre. It's in Atoka County, and if we lease instead of sell, we get royalties as long as the Daisy Upper Stanley unit produces. Obviously, it's in production now, so who's done what with the royalties so far?

That's a good question, and that area has had some exploration and drilling in the past 40 years. debbie at bouontiful is correct, those rights are certainly worth more than $50, even leased. It might be time to find a lawyer who specializes in these things.