montana land values
I have a question for someone with knowledge of oil?
My dad and aunt just found out they own 280 acres of land in Richland County Montana where their is oil, they have been drilling since 1955 and are planning to drill 10 more wells soon. My grandma had owned it and passed away 10 years ago, and they are just finding out about this. She never collected any money from this in all them years. A company is leasing the land, the same company since 1955. Anyone know how much money my father and aunt will be entitled too? Kinda a vague question but we don’t know much yet, they are in the process of getting the land put in their names. Once again anyone know the value of this? They where also issued a “good faith” check for $400 from the leasing company right when they found out about all this. What does a “good faith” check mean? Thanks.
It depends on who owns the mineral rights. Find an attorney who specializes in mineral rights because your grand mother might have signed over the mineral rights for a lump sum years ago and they can then take all of the oil without further compensation.
Get a good mineral rights attorney. I’m sure there are plenty in Montana.
I hope she hasn’t cashed the $400 check yet because that might indicate her willingness to sign over those mineral rights.
GET A LAWYER on the case or pay the consequences.
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