October 2019 Blog Posts (1)

Foreclosure, No bank subrogation, now an unleased mineral owner

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…

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Added by Ron Hance on October 9, 2019 at 1:40pm — 3 Comments

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