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[-] mineral/oil/gas liability - Nathan Miller/KY (4 replies)
6/29/2009 5:05:45 PM (4007 views)
Re: mineral/oil/gas liability - Ray Young/GA
6/30/2009 8:58:25 AM (4016 views)
Re: mineral/oil/gas liability - Jeanine Johnson/MN
6/30/2009 2:23:25 PM (3844 views)
Re: mineral/oil/gas liability - Alix Ott/MI
6/30/2009 5:57:19 PM (3949 views)

Nathan:  AT LEAST YOU AND THE OTHER ABSTRACTORS WHO HAVE COMMENTED HERE ACTUALLY UNDERSTAND THE DANGER!  Jeez, I'm tired of telling title companies how much liability they're taking on when they start talking mineral rights.

I'm actually a Landman (oil/gas title person) and a mortgage-end-of-the-business abstractor.  Having run title for oil/gas in your state (and WV and PA and my own state of Michigan) I urge you in no uncertain terms to explain that if they want a mineral rights and/or oil/gas rights (sometimes those are wrapped in with minerals; sometimes not -- depends on the state), they should contact a Landman.  The search fee could be VERY high depending on the difficulty.  (Landmen often do entire sections back to patent, listing all documents along the way, and those projects can cost tens of thousands of dollars.)  Please do NOT do oil/gas/mineral searches unless you have someone experienced in your state explain the pitfalls.  Some mortgage abstract people can never make the switch to thinking in multiple layers, but I believe any good mortgage abstractor can switch to minerals with just a little extra training.  (Landmen tend to be a bit prissy about their abilities.)

I have a two page letter explaining in excruciating detail why a mortgage/title company should not insure for minerals when they're really only dealing with the surface.  It does lean towards Michigan (which has a 20 year dormancy law), but it is pretty generic and you're welcome to plagiarize it.  Please e-mail me directly at           oily@ArgentTitleResearch.com

Alix

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Re: mineral/oil/gas liability - GARY IMES/WV
7/6/2009 12:55:09 PM (3926 views)

[+] American Abstract - Garret  Fitzgerald/VA (5 replies)
6/29/2009 10:01:46 AM (3905 views)

[+] MORTILES, LLC - martha campbell/VA (2 replies)
6/29/2009 6:44:13 AM (8494 views)

[+] Title Agency Support Services (KY company) - Alix Ott/MI (2 replies)
6/28/2009 9:33:16 PM (3982 views)

NALTEA October Conference - Lynn Hammett/SC
6/28/2009 6:37:19 PM (2995 views)


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[+] Anyone ever hear of Lindsey Title Services - Celia Franklin/GA (5 replies)
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[+] Foreclosure Mill Law Firms Owning Title Company - Diane Baumann/NY (3 replies)
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[+] Made in the USA - AbstractorWatchdog com/NY (8 replies)
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PA public hearing on Title Insurance - Diane Cipa/PA
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[+] Indepth Solutions - PATRICIA PALMER-ILKO/PA (3 replies)
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