Changes

# Sales or gifts may be concluded by documents such as the following:

# Sales or gifts may be concluded by documents such as the following:

#* Deeds (e.g., warranty, quit claim, easement, permit, foreclosure, tax, mineral, and royalty deeds)

#* Deeds (e.g., warranty, quit claim, easement, permit, foreclosure, tax, mineral, and royalty deeds)

#* Leases (e.g., oil and gas, coal, uranium, and surface leases)

#* Leases (e.g., [[oil]] and [[Natural gas|gas]], [[coal]], [[uranium]], and surface leases)

#* Assignments or partial assignments of leases, overriding royalty, production payments, and so on.

#* Assignments or partial assignments of leases, overriding royalty, production payments, and so on.

#* Equitable interests created by contracts such as seismic options, joint venture agreements, joint operating agreements, farm-outs, pooling or unit agreements, and partnership agreements

#* Equitable interests created by contracts such as seismic options, joint venture agreements, joint operating agreements, farm-outs, pooling or unit agreements, and partnership agreements

#: All of the documents must be in writing to be valid against the claims of innocent purchasers for value. Generally the law requires that they be registered or recorded in the public records of the county or parish where the land lies.

#: All of the documents must be in writing to be valid against the claims of innocent purchasers for value. Generally the law requires that they be registered or recorded in the public records of the county or parish where the land lies.

# Transfers by ''devise'' or''descent'' are affected by the laws relating to inheritance of property interests from deceased persons. Such transfers can be accomplished by a will or, in the absence of a will, by laws of descent and distribution of the various states. A party who dies without leaving a will is said to have died ''intestate,'' and the beneficiaries or heirs of the deceased person may have the estate administered in the appropriate judicial forum. A person who dies leaving a will is said to have died ''testate,'' and the will is probated in the appropriate judicial forum. In some cases, wills are not probated and heirs do not seek court sanctioned administration. In those cases, most states recognize the transfer of interests, but some form of proof f heirship may be necessary. This proof can be offered in several different ways, such as by filing the unprobated will in the public records or by obtaining affidavits of death and heirship from people who knew the deceased person's family history.

# Transfers by ''devise'' or''descent'' are affected by the laws relating to inheritance of property interests from deceased persons. Such transfers can be accomplished by a will or, in the absence of a will, by laws of descent and distribution of the various states. A party who dies without leaving a will is said to have died ''intestate,'' and the beneficiaries or heirs of the deceased person may have the estate administered in the appropriate judicial forum. A person who dies leaving a will is said to have died ''testate,'' and the will is probated in the appropriate judicial forum. In some cases, wills are not probated and heirs do not seek court sanctioned administration. In those cases, most states recognize the transfer of interests, but some form of proof f heirship may be necessary. This proof can be offered in several different ways, such as by filing the unprobated will in the public records or by obtaining affidavits of death and heirship from people who knew the deceased person's family history.

# Transfers by ''judicial decree'' may occur as the result of court action involving such things as divorce, foreclosures, contested wills or heirship, partition, taxation, levies on property for collection of money judgments, adverse possession, title disputes, and eminent domain.  

# Transfers by ''judicial decree'' may occur as the result of court action involving such things as divorce, foreclosures, contested wills or heirship, partition, taxation, levies on property for collection of money judgments, adverse possession, title disputes, and eminent domain.

==Ascertaining ownership of property interests==

==Ascertaining ownership of property interests==

| Fast Buck, 1/2 of Fortune's royalty || 0 || 93.75^a x 1/5 x 1/2 x 3/8 || = 03.5156250

| Fast Buck, 1/2 of Fortune's royalty || 0 || 93.75^a x 1/5 x 1/2 x 3/8 || = 03.5156250

|-

|-

| GRAND TOTALS FOR UNIT || || 100.00000 || || 100.0000000

| GRAND TOTALS FOR UNIT || 100.00000 || || 100.0000000

|}

|}

==See also==

==See also==

* [[Functions of a petroleum landman]]

* [[Functions of a petroleum landman]]

* [[Oil and gas contracts]]

* [[Oil and gas contracts]]

* [[Nature of the oil and gas lease]]

* [[Nature of the oil and gas lease]]

[[Category:Land and leasing]]

[[Category:Land and leasing]]