Given the time period a mineral title opinion encompasses, it is
almost inevitable that there will be at least one instance of a
mineral owner vanishing from the records. A likely explanation is
the owner's death, but the absence of an explanation creates a
host of issues that stem from the uncertainty of
ownership.
Before beginning this discussion, some context is necessary. The
issues raised in this series will be presented in a title opinion,
which has a purpose and limitations.
A title opinion's purpose depends on the nature of the
transaction. If the intent is to acquire title to a tract, the
title opinion recommends what should be done to acquire marketable
title. If the intent is to develop the minerals, the title opinion
recommends what should be done to establish defensible title.
Generally, marketable title is a higher standard than defensible
title and is based on legal standards, while defensible title is
based on business interest and risk tolerance
