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re: Just bought 40 acres
Posted on 11/1/13 at 10:54 am to SD90MAC
Posted on 11/1/13 at 10:54 am to SD90MAC
Can you sell your land and put in a clause to maintain the mineral rights until you decide to sell it 50 yrs later...or in perpetuity? Where can I find some good information on mineral rights in Louisiana ?
1
Posted on 11/1/13 at 12:59 pm to Utah Tiger
The only way to reset the 10 year timeline besides production is to execute an 'Interruption of Prescription' (I think that's what it's called), and it has to be signed by the surface and mineral owner. And this document has to be executed before the date of prescription. After that, you can always execute a mineral deed to the intended mineral owner every time the minerals prescribe.
The only way a landowner gets to take advantage of a perpetual mineral reservation is if the State expropriated your property. I believe in this case, the former surface owner will hold the minerals forever.
The only way a landowner gets to take advantage of a perpetual mineral reservation is if the State expropriated your property. I believe in this case, the former surface owner will hold the minerals forever.
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