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re: Louisiana mineral rights agreement discussion thread
Posted on 5/18/14 at 9:42 pm to LSUGUMBO
Posted on 5/18/14 at 9:42 pm to LSUGUMBO
We are told it is not under lease at this time. So basically I buy the property, I get the mineral rights in full at the end of the ten year period? So the only way he can keep them is to wait until that period is up and then negotiate a percentage with me and the sale of the property? Ie...not sell or close on the property until then.
3
Posted on 5/18/14 at 10:10 pm to Martini
I'm fairly certain that is the case- he can't reserve what he doesn't currently own. I'll double check tomorrow when I get to the office.
FTR- I'm in the oil and gas business
FTR- I'm in the oil and gas business
Posted on 5/19/14 at 8:56 am to Martini
quote:
So basically I buy the property, I get the mineral rights in full at the end of the ten year period? So the only way he can keep them is to wait until that period is up and then negotiate a percentage with me and the sale of the property? Ie...not sell or close on the property until then.
The way I understand it, yes.
Posted on 5/19/14 at 12:55 pm to Martini
Honestly, you need to be asking your lawyer these questions.
You're getting into some nuanced stuff that can significantly alter the value of the land and you need to be asking a professional instead of a bunch of dipshits on a message board.
ETA: There is some misinformation in this thread. Don't rely on anything here
You're getting into some nuanced stuff that can significantly alter the value of the land and you need to be asking a professional instead of a bunch of dipshits on a message board.
ETA: There is some misinformation in this thread. Don't rely on anything here
This post was edited on 5/19/14 at 1:03 pm
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