there are a few other ways to extend the ten year period as well, such as by aknowledement.
Thomas, read my blog on Mineral servitudes.
The following applies to Louisiana only.
Without the legalspeak, the basic idea is if you sell the land and retain mineral rights, you keep the mineral rights at least 10 years. If there is a producing well, the mineral rights last as long as the well produces plus 10 years after.
The legal details and definitions are more complicated than that in certain circumstances, but that's the basic idea. I assume Baron's blog has lots of good info on the details. He usually seems to know what he's talking about.
You only retain mineral rights if you specify that in your sales contract.
"You only retain mineral rights if you specify that in your sales contract."
No. It must be in the deed and of public record.
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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