selling leased property
I signed a 3 year lease with 2 option years on my property 3.5 years ago and have since sold the property. I didn't see the deed but I told my realtor to let the mineral rights go with the property. Here's my question: If production starts who will get the royalties, me or the new owner until the lease expires?
Views: 18
Replies to This Discussion
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Permalink Reply by P.G. on -
If you sold the property without reserving the mineral rights, likely the buyers will get the royalties. They own the mineral rights now.
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Permalink Reply by Bobi Carr ("parker") on
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The new owner will receive the royalties.
Minerals transfer unless specifically reserved in the Deed.
I have previously purchased property that was subject to a mineral lease. The seller did not reserve, and I now receive royalties.
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