Posted by BrendaTx on 5/21/06 1:29pm
Msg #121319

OT - Oil *leases* - Title experts

Are oil leases recorded? I know mineral rights deeds are, but leases? Are they?

Reply by BrendaTx on 5/21/06 3:17pm
Msg #121330

A little more info, it is a 99 year lease.

If it were a week day I'd call the county clerk, but...it's not. Just hoping someone would know.

Reply by NCLisa on 5/21/06 3:59pm
Msg #121334

I know that in NC any lease over 3 years is supposed to be recorded. I would think that oil leases would be recorded, or any binding lease that could affect a potential buyer of a parcel of land or commercial building.

Reply by BrendaTx on 5/21/06 4:24pm
Msg #121340

Re: OT - Oil *leases* - Title experts - very good info

will pass along to the person who asked me this question. THANKS Lisa - I will bet that goes for Tx also.

Reply by Cris_AR on 5/21/06 4:34pm
Msg #121344

In Arkansas, yes.

Reply by Stamper_WI on 5/21/06 9:25pm
Msg #121373

I have seen recorded leases in WI and Oregon. Both from the Foresr service for 99 yrs

Reply by TitleGalCA on 5/21/06 11:40pm
Msg #121388

Deeds that include mineral, oil and gas are either being without the right to surface entry; or the seller just sign's those mineral, oil and gas right away with the deed. Very common, but an oil lease I've seen have these heavy, tarnshed horse-looking like things by the seawater....they go up and down like a pony. And when mom wouldn't let me out of her care for the ride, I began to wonder what they were there for.

Dad, a republican told me to climb in the front of the car as was going to give the good American Dad talk about how make money, right here in the good 'ol USofA. After I stopped crying (not about the horsey) its just the speech went for hours up the coast from Malibu to Goleta, and I couldn't stand any more "advice".

But, I do know it was an oil lease, sure as shootin.

They do need to be recorded, depending on the term of these, and it is an option for those leases falling outside the the term of the lease. It all must be agreed upon by the owner of the lease and profits are split.

Recorded Oil leases were things came up in title that were annoying, as they were OLD. But we had to clear them from the land so we didn't have any unfortate situations like having a grandfatherly old man make a claim that that har horsy was min and what DO yuuu think yuuuu ar doin on my propity? (Picture straw hat, overalls, and a shotgun), but I digress

I'll look into it tomorrow and get some better information for you. As I don't see very recent recorded oil leases, may the practice has changed.

I'll do my homework tomorrow, but for now, my Master is telling me it's time to go nite-nite. And I DON'Tdo find out tomorrow with better information; my county has many up the ocean; Oil leases are a part of the operation I'm sure I've never been asked to issue title insurance before

Reply by TitleGalCA on 5/21/06 11:47pm
Msg #121389

DISREGARD the last paragraph

I had a wet sqeek toy put right on top of my typing fingers. Since I don't want to tick him off any further, time to hang up the keybord

Reply by Stamper_WI on 6/10/06 9:50am
Msg #125111

Re: DISREGARD the last paragraph

I was settling my Mom's estate in 1983 and found she was getting royalties from oil rights under her mothers old house in Long Beach, CA. She and her siblings were each getting about $400 a year! This lot was about 100x 120!
I think this originated in the 1930's or 40's! They sold grandma's house in 1971 but retained the oil royalties. My brothers and I signed our rights over to the the aunts and uncles. Some cousin at some point might get a nice little check when they are really old LOL.

I remember all the horsey's! Dad always claimed one particular one was Mom's but the paperwork said they were drilling sideways from the ocean.