Can someone tell me that if in a forced sheriff's sale in Louisiana, does the mineral rights go with the property or is it just the property alone?
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Good question.
Giving the laws of Louisiana, who knows? I would think that if the minerals were not leased or under production, they would go with the forced sale. A car repo doesn't take note of how much gas is in the tank and give it back to you, they take the whole car, gas and all.
If there is a lease or production, I would think the contract would trump all the 'what if's'.
The same rule applies as in other sales. Recorded rights (mineral rights, royalties, leases) in third parties are not affected. If mineral rights owned by the foreclosure defendant are not excluded in the sale, they go with the land to the purchaser.
What Thomas said is correct. The Mineral rights will go with the land in a foreclosure unless they are owned by a third party. If they are under lease, the minerals will be transferred subject to that lease.
In a non-foreclosure sheriff's sale, the minerals could be reserved from the sale. This would be most likely to happen in a partition by licitation.
Correct me if I am wrong. If John Doe owns a property with minerals, sells minerals, and then goes into foreclosure, those minerals come back to the foreclosed property (this is Louisiana I am referencing). If John Doe had a mortgage on property then minerals were mortgaged and he cannot sell what he doesn't own. Some people know when they are going into foreclosure & sell minerals to get quick cash. That won't fly.
I have noticed that when some investors buy minerals, they will record a request of foreclosure on the property so if it does go into foreclosure they are notified
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