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Started By
Message
re: Just bought 40 acres
Posted on 10/30/13 at 10:05 am to SD90MAC
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.
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