landowner

Prescriptiion Question

A person owns mineral rights that will prescribe in July 2010.  In July 2008, this person leased her minerals in a 3-year lease.  No drilling has occurred or will occur by July 2010.  When the mineral rights prescribe in July 2010, is the new owner of the minerals bound by the old lease?  Thanks in advance. 

Tags: prescription

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Oil & Gas ProPermalink Reply by The_Baron on April 9, 2010 at 8:26
He is saying that the minerals will prescribe before the lease expires.

The lease will terminate on prescription. if that occurs.

Oil & Gas ProPermalink Reply by The_Baron on April 9, 2010 at 8:29
unless of course the lease has an after aquire title clause.

§144. After-acquired title clause may bind lessor and successors in title

A mineral lease may provide that a mineral right that terminates during the existence of the lease and becomes owned by the lessor or his successor in title shall be subject to the lease. If the lease is filed for registry, the provision is binding on all subsequent owners of the land or mineral rights leased.

Acts 1974, No. 50, §144, eff. Jan. 1, 1975.

landownerPermalink Reply by Henry on April 9, 2010 at 10:38
Baron,
The original lease reads: "The rights of either party....shall extend to heirs, executors, administrators, successors and assigns..."

Is someone who acquires the land via prescription considered a successor or assign?

landownerPermalink Reply by Mac Davis on April 9, 2010 at 8:52
Never mind, I misread. I thought the surface owner signed the lease. He said the mineral interest owner signed the lease.

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