Anybody have time to answer some questions about rural acreage?

[Yeti695]

A title company will do it, for a price not sure how much. If you want to know any of that information I would have a title survey or ALTA survey done on the property. Yes its not required but it will give you any and all easements, rights ingress and egress across that property also giving you a stamped boundary plat. These can cost quite a bit, but ot would be worth it to know all about the property and any thing that affects it. If you go this route tell the title company that you want all finding as well.

 

[JEVapa]

Find out if the 40 acres are on a specific place and separate from the other 160, or if it's anywhere within the 200 acres. If it's the latter, you're not doing anything without permission from the other owners. except growing cows and then they still get their cut. If the 40 is separate, see if he'll sell separately. Beware.

 

[Snattlerake]

I have contacted a good friend of mine who used to be an assessor and is now a landman.

He should be getting back to me pretty soon.

 

[SoonerP226]

Yeah, one of the owners of the undivided property can force a sale, but like TR said, that involves them going to court, so I wouldn’t count on that unless the owners already don’t like each other. If one of the owners already had plans for someone to inherit her share of it, I’d say that it’s almost certain that a court-ordered sale would be the only way a sale will happen. I’d stay very far away from that one.

 

[cowadle]

if the minerals have been sold or leased it will show in the abstract if it is up to date. you can go to the county seat courthouse and go to the county clerks office with te legal description of the property. you can look in the books for any assignments,leases,sales right of way etc etc. never ever buy land without a clear title....

 

[Snattlerake]

A title company will do it, for a price not sure how much. If you want to know any of that information I would have a title survey or ALTA survey done on the property. Yes its not required but it will give you any and all easements, rights ingress and egress across that property also giving you a stamped boundary plat. These can cost quite a bit, but ot would be worth it to know all about the property and any thing that affects it. If you go this route tell the title company that you want all finding as well.

My assessor friend says you covered the answer here pretty well.

 

[Yeti695]

My assessor friend says you covered the answer here pretty well.

Thanks. For commercial sales in some parts of the world an ALTA or Title survey is required.

 

[Parks 788]

Assessors determine tax rates. How do they factor into this discussion?

And the Landman is a middle man working for an oil company as liaison prior to exploration.

I want to know how to find out if the property conveys the mineral rights or if they've already been sold.

Thanks for the response.

Things I've learned with buying our new property in Bristow is that either the native americans or an oil company will have about a 99% chance of already owning the mineral rights on any land you purchase in OK.

 

[Bahick71]

You should be able to go to the county clerks office. Should show who owns what, land and mineral rights. Mineral rights are
Divided by surface and by zones, and different people can own them.

 

[Shadowrider]

I am a landman. The suggestion of going to the County Clerk's office is a good one. That's where the all official records are held. You can build your own abstract there if you want to and know how. The deputy clerks will point you to the books but you'll have to do the work. Copies generally run $1.00 a page. You can photo all of it but the index, they frown real hard on that, but the records themselves are fair game.

Undivided ownership is what a lot of people don't understand. If you buy a fraction (any fraction) you don't have any more (or less) rights to build or improve the land than the other owner(s) do. If you bought an undivided 1/2 and the parcel is 200 acres you would own 100 net acres. But....In reality you own 1/2 of every one of those 200 acres. You won't get financing to build period...Full stop. If you were to build something, plant something, etc. you are building/planting/etc. on the other owner(s) property. That's why that's a really good way to get yourself dragged into court. You need to be very good company to the other owners and they to you if you get what I mean.

If the minerals are severed you won't have a drilling rig setting up on your driveway or back patio. You have some say and will be paid for surface "damages". That's code speak for the surface used in the oil and gas operations, including lease roads, well pad, tanks, etc.

Forcing the other owners to sell is called partitioning and yes, you have to go to court and there are no guarantees that you will prevail but you might. It'll depend on the situation. I don't see it much anymore, but I don't deal with surface much either...