I have a question on selling minerals
I see advertisements wanted to buy minerals all over.
I was wondering if they are still buying after leasing. For example say i signed with a company and collected a bonus payment would the buyers of minerals still be interested in buying the minerals???
Views: 1778
Replies to This Discussion
-
Permalink Reply by Philip Brutz on
-
They are more interested in buying your minerals if you are leased. They are most interested if you are in a drilling unit.
-
Permalink Reply by Bill Barnaby on
-
Yes, but don't jump at the first chance to make a buck...I figure you already know this by now though :D
-
Permalink Reply by Jack Straw on
-
Adam,
If you own both the surface and the mineral rights, there is one thing to kbeep in mind; were you to sever and sell the mineral rights, you relinquish a great deal of control over the surface.
Those who possess the mineral rights have the legal right to accomplish what is required to extract those minerals.
In leasing (rather than selling) mineral rights, you can (and should) have wording included in the lease which provides some protection to the owner of the surface.
All IMHO,
JS
-
Permalink Reply by Booger on
-
Jack - can you not have wording included in the mineral deed which provides surface protections?.........similar to what is in a lease?
-
Permalink Reply by Booger on
-
I have got them to agree to such language.........just wondering if there is some over-riding law or something that I don't know about........JS says "Those who possess the mineral rights have the legal right to accomplish what is required to extract those minerals"................I would think the mineral deed is the over riding contract but not really sure.
-
Permalink Reply by evan on
-
Booger you need to Google " Partition", this is something that can help you decide if it's worth the risk to sell some mineral rights , when in reality they can file a partition and get the rest that you didn't sell, totally legal
-
Permalink Reply by Philip Brutz on
-
http://en.wikipedia.org/wiki/Partition_(law)
Partition by sale constitutes a forced sale of the land, followed by division of the profits thus realized among the tenants. Generally, the court is supposed to order a partition sale only if the land cannot be physically divided, although this determination often rests on whether the economic value of the divided pieces is less in the aggregate than the value of the parcel as a single piece. See Delfino v. Vealencis, 436 A.2d 27 (Conn. 1980).
A provision in a deed completely prohibiting partition will not be given effect, but courts will enforce a provision that temporarily restricts partition, as long as the restriction is reasonable.
-
Permalink Reply by Philip Brutz on
-
Evan, you may want to explain how a legal partition may put a landowners unsold portion of their mineral rights at risk in the future.
-
Permalink Reply by evan on
-
Yes Philip, here goes. If you sell a portion of your mineral rights , any amount , whoever has that interest now cam file a partition and try and claim the rest. It is totally legal for them to do this . It doesn't matter if it's 5% or 49 %, they can file a partition and try to get the rest from you. Both parties shall appear before a judge and if an agreement can't be reached or one person can't afford to buy the other out, then it will go up for sheriffs sale and you know who will win that bidding war. Also you can't put wording in a mineral deed that says so and so can never file for a partition, the legal system won't allow it. Although you can put a short time limit on there but not much more than 10 years
-
-
-
Some companies buy surface as well
Top Content
Latest Activity
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
