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3
Posted on 10/30/13 at 9:54 am to SD90MAC
Why didn't you buy the minerals?
Posted on 10/30/13 at 10:05 am to SD90MAC
quote:
There was no previous lease on the land. Can the seller still lease the rights to my land even though i dont sign. Or do they have to get both of us to sign?
No, the seller cannot lease your surface rights at this point...you now own them. If the oil company wants the option to use the surface rights at a later time then they have to negotiate with you.
However, the seller can still negotiate with the oil company seperate from you regarding the minerals underground.
Posted on 10/30/13 at 10:14 am to SD90MAC
quote:
Can the seller still lease the rights to my land even though i dont sign
Not surface rights, but what is under, yes for 10 years from sale day.
OP, now if the oil company wants to shoot for seismic, you will get X amount of money per hole across your land. Last time they did my place(20+ years ago), I was paid $25 a pop. Don't know the going rates now.
This post was edited on 10/30/13 at 10:19 am
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