Non-Record Title Considerations
The syllabus for this Special Institute on Mineral Title Examination states that this paper will explore non-title matters which directly impact ownership, such as farmout agreements, joint operating agreements, pooling, spacing, unitization, zoning, due diligence in acquiring property, environmental considerations, and bankruptcy considerations. Each one of these specific areas is sufficiently broad to require a separate paper and many excellent articles and papers have been written on most of the subjects addressed herein. For this reason the paper will attempt to limit discussion of these non-record title matters to their effect and impact upon ownership and the paper will not discuss many of the intricate issues that arise in such areas. Where appropriate, citation is made to legal treatises, articles, and other materials that further address a specific topic. The paper does not cover securities issues or matters that pertain to Indian lands and leases. State statutes may alter the effect of some of the non-record title considerations reported herein, such as the effect of a proceeds payment act.
The purpose of this paper is to identify common instruments, issues, and problems that a title examiner needs to be sensitive to and familiar with while examining title and identify what matters do not generally appear of record in (1) the Office of the County Clerk and/or
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