There’s a prominent story that is related to our topic today. The story goes as such, there was an individual who lived in a land far, far, away. He was a farmer, his family had been farmers for many decades and they were moderately successful within their agriculture business. His family was a humble family who didn’t know much about mineral rights or landman services.
They just knew how to be farmers. They never looked into other aspects of their land such as oil exploration or gas exploration. They never studied different aspects such as oil lease or gas lease services and other potential possibilities.
They only stayed true to what they knew because that is what had worked over many decades, from generation to generation. That is what they would stick to and continue.
Now, it was up to Frank to take on more responsibilities to manage the lands. He was the point man, the next generation that would take over the many acres that the family had amassed over years and years of hard work.
Frank Leaves for Riches Elsewhere
He would be trusted to carry it on, to be a good steward and to pass it on to the next generation. Unfortunately, he wanted more, he wanted to be more than just a simple farmer. He wanted great fame and excessive wealth and riches. He left his family and his many acres of land and went to find his treasure in a distant land. He left the compounded wealth that had happened over time and went to pursue his riches elsewhere.
Frank Comes Back
Unfortunately, things did not work out for Frank. He came back to his property fifteen years later. He realized that things had changed. He came back home to find that his compounded wealth had been in disarray. He had left the property to a friend of his, Jack, whom he thought would be able to handle the farmstead and the many lands attached to it in a feasible and proper manner.
But Jack had turned out to be lazy, irresponsible, and a drunkard. Jack did not know about mineral rights, about oil title, gas title or anything of that sort. Jack really didn’t know too much actually. To cover his laziness and lack of work ethic, he had been selling portions of the land.
He took to gambling as well and had debts to pay. It would take no price for guessing that he sold off more portions of Frank’s land to willing and waiting buyers to pay off his own debts.
It is prudent to note here Jack never wondered why there were so many buyers waiting to scoop up the land.
He didn’t know that the different lands that his friend and his family had accrued over time were a gold mine of riches. He didn’t know that it was a land filled with many minerals.
He didn’t know that if they had learned about the topic of mineral rights and if they had paid more attention to the booming industry that was taking their neighboring cities and towns by storm that they would have been wealthy beyond their wildest imaginations. He didn’t know about compelling companies who were quickly advancing, and working on different aspects of the industry from oil title to gas title and more.
Frank had left a goldmine to search for imaginary riches elsewhere, and lost everything in the process. If he would have stayed at home and kept growing his current wealth, then his family’s estate may have not met the unfortunate fate.
This tale serves as caution to those who want to ensure that they are not throwing their wealth away. If you have an estate or a piece of land and if your nearby landowners are discovering minerals over them, then it would be time to speak to a company that could assist you with securing your mineral rights as well. Make sure that you don’t be complicit with this in order to stay away from the same end as Frank’s estate.