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Permalink Reply by Skip Peel - Mineral Consultant on January 14, 2011 at 3:41

LA. law provides for a ten year prescription period.  The prescription clock can be reset however by good faith efforts to drill a well and is suspended in instances of commercial production.  The ten year period would resume when production ends.

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Permalink Reply by The_Baron on January 14, 2011 at 4:28

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.

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Permalink Reply by Mac Davis on January 14, 2011 at 15:28

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.

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Permalink Reply by The_Baron on January 19, 2011 at 8:56

"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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Permalink Reply by Mac Davis on January 19, 2011 at 9:45

Correct, it needs to be in the deed and public record, but it probably won't go into in the deed or public record unless it's in the sales contract.  And if it's in the sales contract, it will go into the deed and public record unless the title company is incompetent or dishonest.

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Permalink Reply by David Mauthe on January 19, 2011 at 6:51

Yes, the amount of time is 10 years but only if when you sold it there was an agreement signed between the buyer and seller stating the seller would retain them.

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