As a preview to our November online courses, I’m taking time in this newsletter to highlight some supplemental resources of value to landmen. Of all the courses that I teach, the topics of title, conveyance and calculation are the most vital for our field.
As such, Module 2 is one of my most favorite in the series as it’s truly the foundation — and is often complex to validate. It’s a bit like being a detective at the start to determine who owns what, then a lawyer to transition ownership, and lastly, an accountant to calculate payments.
And, it’s fraught with liability pitfalls if any of the chain, conveyance or calculation is incorrect. Our insurance as land professionals starts with education.
I hope you’ll consider joining me in November to brush up on this topic. If you haven’t taken one of our online courses, they are self-paced, take about 12 hours to complete, and cost $612.50 per course for Texas residents and $637.50 for non-Texas residents.
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THIS MONTH’S TOPIC:
All Things Title & Conveyance
If you don’t regularly read our course summaries, I really encourage you to skim the bullet points below for our Module 2 courses. I’ve bolded the key terms below for an at-a-glance view. If any of these terms seem foreign to you or make you groan, consider joining us.
We cover how to ensure the correct owner is leased and that the title is marketable. We outline how to transfer property when an owner is deceased and how to address the law of escheat in some states.
Additionally, if the course isn’t a fit for you right now, I recorded a series of 10-minute video tutorials on conveyance and interest calculations to support those studying for the CPL and RPL exams. I encourage you to spend 10 minutes to up your game today!
View the study guide problems here.
PLM: Running Title & Interpreting Conveyance Instruments
Module 2 helps students:
- Run the Chain of Title for a given property
- Identify current mineral and surface ownership and interest
- Understand and apply probate laws of Colorado, Oklahoma, New Mexico, Arkansas, Texas, Louisiana, Pennsylvania, and West Virginia
- Identify, analyze, and interpret conveyance instruments including the Quit-Claim Deed, Warranty Deed, Special Warranty Deed, Dresser Drawer Deeds and Assignments
- Distinguish between the sale of a royalty interest and the sale of a mineral interest
- Understand and apply the Duhig Rule when dealing with fractional interests
- Understand the concept of ‘marketable title’ and its achievement via Title Opinion requirements and affidavits
- Calculate working interest and net revenue interest in a property before and after it is leased
View the syllabus to learn more about this course.
DO: Land Title, Title Examination & Changes of Ownership
Module 2 helps students:
- Understand Real Property Law and its impact on land practices
- Distinguish the different types of ownership in land, including undivided interests, joint ownership, surface estate, mineral estate
- Distinguish different degrees of ownership in land such as Fee Simple & Fee Simple Determinable (Life Estates)
- Understand & interpret conveyance instruments including the Quit-Claim Deed, Warranty Deed & Special Warranty Deed
- Know and apply the correct legal documents to affect a change of ownership
- Identify & apply probate laws of Colorado, Oklahoma, New Mexico, Arkansas, Texas, Louisiana, Pennsylvania, and West Virginia
- Understand and apply the Duhig Rule when dealing with fractional interests
- Understand the laws of Escheat