Posted by John Merchant on March 20, 2006 at 19:51:41:
Sounds like the S wants to keep the mineral rights, but you need to find a lawyer you can trust and get his explanation and opinion.
Mineral/Surface/Royalty Rights in Texas - Posted by Kendra Miller
Posted by Kendra Miller on March 20, 2006 at 18:41:17:
We are working on buying 125 acres. The seller, however, is a real estate
lawyer and has worded things in such a way that it is hard to decifer. I just
need to find out what he is talking about. We have given this information to
our own lawyer, however, I would like a second or third or fourth. I am
scared that we will be taken advantage of due to the knowledge of the seller.
He says that he reserves an undivided 1/16 royalty interest in all oil, gas,
coal, and other minerals in, under, and that may be produced from the land
including 1/2 of all advance royalties paid by leasee under any future mineral
lease. This provision shall survive the closing of this contract and will not be
deemed merged into any of the closing documents.