You Say I've Inherited What???

Terry

I get a phone call last Friday telling me there was a note pinned to the door of my old house (deserted and up for sale) saying to contact this person ASAP because I am an heir to something or other.

Eventually, I get around to it this morning; I make the call.

It seems XTO Energy Corporation is looking for me because I'm an heir to my great grandmother's mineral rights to a 4 acre strip of land in Burleson Texas. The land is wanted for drilling purposes by the Oil and Gas drilling exploration team.

I met with the agent this morning. He showed me my great grandmother's obituary and his copy of the family tree. He has met with everybody left except myself.

In effect, they will pay a cash payment for the right to sink a test well and a monthly stipend each succeeding month afterward. If they strike gas or oil the check will increase accordingly.

I've done some investigation in all this. The company is legit and so is the agent. The amount they pay varies according to details. (How much I hold out for before signing!)

But, this seems like a most fortunate turn of events!

Has anybody else ever had something like this happen to them seemingly "out of the blue"?

Warlock

Has anybody else ever had something like this happen to them seemingly "out of the blue"?

No, but I'm still hoping something like this happens to me. I'm glad it happened to you, though.

Warlock

fullofdoubtnow

I am so pleased for you Terry, what a lovely surprise.

Nothing like that has ever happened to me, but one can hope...

bluesapphire

Oh, hello my new best friend LOL!

Just kidding. Very happy for you. I never heard of anything like this happening to anyone before so it's nice to sort-of know a real-life person that this happened to. You should pretend you never got it and invest it. Imagine how much money you'll have someday.

SixofNine

Hi Terry.

Something is going on around here, I suspect it's all about profitability of drilling. My friends recently purchased a 1 acre piece of land, virtually landlocked by existing homes, in Grapevine. Shortly after closing, they were told by the seller that a company was interested in drilling for Natural Gas, and that they had purchased mineral rights along with the land.

confusedjw

SNAP! Good day for you Terry and I'm glad for you. No nothing like that has happened to me, but I'm up for it! Yes, I'm really up for it. Naturally you will have doubts about how much you should hold out for, but I'm sure you'll research in whatever way you can to get compensated - or you could build a house on the property and kick your feet up.

jstalin

Don't sign anything without running it by a real estate attorney. Maybe check to see if there are any attorneys in the area that specialize in those kind of mineral rights too.

Edit: Additional thoughts - something doesn't seem right here. Do you have a deed to the property? Just because you are an heir doesn't mean you are the one to pay for the drilling rights. It sounds like there are other living relatives who might have an equal or superior claim to the inheritance. I would do more due diligence on this first if I were in your shoes.

Terry

Edit: Additional thoughts - something doesn't seem right here. Do you have a deed to the property? Just because you are an heir doesn't mean you are the one to pay for the drilling rights. It sounds like there are other living relatives who might have an equal or superior claim to the inheritance. I would do more due diligence on this first if I were in your shoes.

I've done some more checking this morning....

My great grandmother had an attorney who was a member of the lodge called ODD FELLOWS as was her common law husband. She being a widow was in the care and keeping of the lodge. They saw to her affairs as a kind of legacy. They helped her sell off the land of her common law husband (apparently they never married) because she had no formal will.

The land was sold with a specific clause added (the agent today showed me the deed and the clause) that preserved the 30% for her heirs. (Me).

A lot of people in this area have told me XTO has given them the same deal. The amounts they receive varies.

My ex-wife was getting close to $50,000 a year THAT I KNEW NOTHING ABOUT because of her grandfather's land holdings. I guess that explains how she was able to run up credit card bills of over $40K and not blink an eye!

How do like them apples?

NewYork44M

This may be totally legit. However, something about it sounds too much like those emails that ask for your assistance to get an inheritance out of some far away foreign country that no one has ever heard of.

heathen

I'm surprised they are still looking for oil in texas . My advice, read the small print with a magnifying glass .LOL I think it strange that all you got were the mineral rights and not the deed to the land . Could be a sneaky relative behind this too .When it comes to $$ you always have to watch your back end . Family will even become your worst enemy.

You Say I've Inherited What???

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