Closing and Funding
The final step of a mineral sale — the deed is delivered and recorded and the purchase price is paid, usually after the buyer has completed title review.
Why it matters when you sell
Most of the elapsed time in a mineral sale is title review rather than negotiation, so the state of your paperwork largely determines how quickly you are paid. Sellers whose chain of title is already clear routinely close in weeks; positions with unresolved estates take as long as those estates take to resolve.
Example
Two sellers agree terms the same week. One holds recorded deeds, completed probates and current division orders, and funds in about three weeks. The other has an estate never completed in the county where the minerals lie; the cure takes two months, and closing follows it. The difference is entirely in the paperwork, not in the assets or the buyers.
How this varies across the states we serve
Recording is done county by county, and the pace differs considerably. Busy Permian and Bakken counties in Texas, New Mexico and North Dakota process a high volume and many now accept electronic recording; smaller rural counties across Wyoming, Montana and Oklahoma may still record by mail on a slower cycle. Where an interest spans several counties, the last one to record sets the timeline for the whole transaction.
What to have in hand
Ask any buyer what has to happen between agreement and funding, and what could delay it. A buyer who can answer precisely has done this often; the answer also tells you which documents to assemble now.
Related terms
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