Foreclosure on Louisiana building with leased minerals, no bank subrogation (bank didn’t sign off on oil and gas lease). I purchased the minerals from the bank, so I now have an unleased mineral…Continue
Started this discussion. Last reply by Ron Hance Jan 17, 2020.
Foreclose, Commercial property, no bank subrogation (they didn't sign off on the oil and gas lease). I purchased the minerals from the bank so I am now an unleased mineral owner. At the time of drilling and for a few years after the minerals were under lease executed by the borrower.
So am I, as an unleased mineral owner, responsible for the costs of the well? (aka, do I have to wait for the well to payoff before i start receiving a royalty). Assuming I shouldn't have to pay for…Continue
Posted on October 9, 2019 at 13:40 — 3 Comments