Legal Question in Wills and Trusts in North Dakota
Oil and mineral rights
I am the widow of the heir of oil and
mineral rights in the newly black gold
booming North Dakota. In 2005, My
sister-in-law, the executor on my
deceased parents-in-laws and I
signed an oil and gas leas with a land
man and now, a large oil Company is
installing two wells on two separate
locations. A man who calls himself
the curative (???) for this Company
has been asking for papers, proof
that I am the heir etc... and he also
has asked that these rights be
probated to us (my sister-in law
and I) and suggested to do that
through a local lawyer of our choice .
Why is that and are there some
things we should be aware of,
questions we should ask etc...? My
sister-in-law has been very nervous
about this. She sees us, two women
facing the giant Oil and Gas Company
and is afraid of being taken
advantage of. I tend to believe that
things are done following the law,
am I naive or again what questions
should we ask?
I was also asked to have my two
young adult daughters ratify the
lease. Why is that? Are they entitled
to part of the royalties or do I get
everything for the moment?
Thank you for your answers.
2 Answers from Attorneys
Re: Oil and mineral rights
You own nothing that hasn't been transfered to you. After someone dies, assets in the name of the decedent must be transferred through a probate proceeding. That's why. You may want to read up on these things as it is important information to protect yourself and your family. I wrote a book on it for the non-lawyer that explains all this and more and provides a lot of plain English forms to use. You will find the book at www.IWant2CreateMyLegacy.com.
Good luck.
Re: Oil and mineral rights
You mean you didn't consult YOUR OWN licensed ND attorney before signing the lease??!? Now would be a great time to fix this mistake, even if you have to fly up there.
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