Selling Your Minerals??? This is an option to buy aggreement to look at.

Mason%2C%20Brandon%20120_Business_Day_Open_Road_Option%20%28Magnoli...This topic has been coming up a lot lately,  So if anyone has questions about how the process works, Here is the first thing you will fill out.  It is called an option to buy agreement which essentially locks your property in while it gives the buyer time to research it. Most options to buy will look like this,   Attorney friends, I would invite you all to read over this, pretty short, and offer ideas/suggestions on whether this may or not need changed for the landowners protection.  Attached is a PDF  of the form for everyone's review please off up suggestions as a lot of people have considered selling recently.

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Permalink Reply by Frank Walker on March 28, 2015 at 10:44am

+1

Well said, Ed.

Permalink Reply by Dexter Green on March 28, 2015 at 5:39pm

What Ed and Frank both said.

Permalink Reply by Joseph-Ohio on March 29, 2015 at 1:58am
Options to buy aren't for us. Selling only a percentage seems to us to leave open an invitation to grief (legal / financial / both including all related to the afore written).

The option of total sale of mineral rights seems to us to leave us and our land vulnerable to abuse. To protect ourselves from that the only 'sales' option remaining would be total sale of minerals / land / surface and improvements.

To us, a good landowner cognizant lease and development is the preferred way to go.
Permalink Reply by Joseph-Ohio on March 29, 2015 at 5:35am
Can't neglect that there seems to be plenty of headaches associated with leasing; judging from what I'm reading on GMS and elsewhere (and have been reading for quite awhile now).
Permalink Reply by searcherone on March 29, 2015 at 2:03am

Options also imply that the person giving the option gets a lump sum  nonreturnable payment for entering into that option with a potential buyer.   After all the owner is taking his property off the market to other buyers while the option is in effect.

Permalink Reply by bo boboski on March 29, 2015 at 3:07am

That's right! there should be a NON-REFUNDABLE payment at signing, at least 10%. When I was young & dumb, I made an option to buy 5 acres, paid a deposit of $1000.  then backed out. I LOST the $1000!  Options to buy without a large deposit are only good for the buyer.

Permalink Reply by Joseph-Ohio on March 29, 2015 at 3:42am
That was the $1.00 and other valuable consideration written in the sample 'Option'.

Ha !

How insulting does any landowner want it ?
Permalink Reply by brandon on March 30, 2015 at 2:00pm

Glad to se everyone is getting educated.  This is how this site is supposed to work!!!

Permalink Reply by Joseph-Ohio on March 30, 2015 at 2:17pm
Yeah, I got that; but, it's too bad the 'education' leaves me with such a disgusted, negative, powerless impression of the landowners' / mineral owners' circumstances in these endeavors.

It all seems to me to add up to a lot of bad news.

Good news bytes seem to me to be few and far between.

What's your general overall read on the situation.
Permalink Reply by brandon on March 31, 2015 at 2:19pm

Joseph,  Why would you be powerless? You are the one in control because you are the one selling/maybe selling. You are only as powerless as you let yourself be.  Keep yourself informed, It obvious that you have already made the right choice by looking through and joining this forum. We are all In this together, This is why this site exists.   Keep your head up we will get through it.  

Permalink Reply by Joseph-Ohio on March 31, 2015 at 8:48pm
Seems to me, that's exactly it brandon.

But, allowing myself to feel 'powerless' isn't the right thing to do either, as there are still those choices (sell or not / lease or not /attempt to negotiate or not).

However, it does appear to me to be the extent of any landowner's / mineral owner's 'power' in these matters (as I watch seemingly only industry and our government establish / change the laws / rules governing the dispositiion of our valuable property).

Feeling 'powerless' I guess as it appears that our rights of ownership are being modified / changed / diminished without being consulted and / or without our consent.

Seems to be a 'take it and better learn to like it' kind of a deal to me.

I don't know exactly how other landowner(s) / mineral owner(s) feel but I don't enjoy being 'forced' to do anything really - and that's what it feels like is happening to us in these matters.
Permalink Reply by bo boboski on March 31, 2015 at 9:18pm

Sorry to butt in, But on the brighter side, I remember reading somewhere that in a lot of other countries, the mineral rights belong to the Gubment. The landowner only owns the surface. So maybe we should count our blessings.

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