did you inherit mineral rights

Did You Just Inherit Mineral Rights?

While some search for and purchase mineral rights, others acquire an interest or inherit mineral rights after the death of a family member or other loved one. You are probably asking yourself, what do I do now? Inheriting mineral rights can be complicated and confusing. Here are some simple first steps that you can get started on with support from an attorney at Kearney, McWilliams & Davis.

Gathering Essential Documentation

First, you will need to gather relevant documents. Did you receive these mineral rights through a will? If so, make sure you have a copy. Sometimes, the division of the family member’s estate will need to be approved by a court through a process called probate. In this case, you may need documents like letters of testamentary and a court order admitting the will to formalize probate. If there was no will, you may need to gather an affidavit of death, affidavit of heirship, and letters of administration. The attorneys at KMD can help you make sure you have all of the necessary documentation to proceed.

Establishing Ownership

Second, you will need to make sure that you are, in fact, the owner. Determining ownership is not always straightforward, and involves examining public records including deeds, land surveys, and probate records to make sure there are no unresolved issues. You may find outstanding liens, encumbrances, bad conveyances, or competing claims that need to be settled before moving forward. The attorneys at KMD can help you work through the document examination so you can feel confident that your interest is protected.

Addressing Potential Issues

Lastly, you will want to identify the scope of the mineral rights inherited. What types of minerals are involved? Are there any oil and gas leases, royalties, declarations of pooling, or surface use limitations burdening the mineral interest? When are payments being made and where are they going to? An attorney at KMD can then help you navigate the complexities of managing and maximizing the value of your mineral rights inheritance.

Kearney, McWilliams & Davis’ Energy and Natural Resources attorneys are experienced in guiding clients through every aspect of mineral ownership, including if you inherit mineral rights. Contact us today with any questions!

Written by Lise-Anne McLaughlin, Senior Attorney at KMD Law