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Mineral Rights... Help!
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<blockquote data-quote="Arnold Ziffle" data-source="post: 129139" data-attributes="member: 43"><p>You need to get with an attorney (or possibly some "industry" person), but somebody that really knows what they are doing with respect to mineral leases. Many issues to consider, such as the prevailing lease bonus $$ for your area, percentage of royalty interest going to you as landowner, term of lease, delay rentals and shut in royalty provisions, clean up provisions, issues relating to gas marketing & compression charges. Also, address specifically what is excluded from mineral exploitation. You might not mind an oil or gas well (most folks salivate at the thought of getting some of that "mailbox money") but I bet you sure <u>wouldn't</u> want to give them the right to strip mine for lignite without realizing it. ;-)</p><p></p><p>And make sure you realize the difference between entering into a contract to lease them the property for specified term and purposes -- versus selling them perpetual mineral rights.</p></blockquote><p></p>
[QUOTE="Arnold Ziffle, post: 129139, member: 43"] You need to get with an attorney (or possibly some "industry" person), but somebody that really knows what they are doing with respect to mineral leases. Many issues to consider, such as the prevailing lease bonus $$ for your area, percentage of royalty interest going to you as landowner, term of lease, delay rentals and shut in royalty provisions, clean up provisions, issues relating to gas marketing & compression charges. Also, address specifically what is excluded from mineral exploitation. You might not mind an oil or gas well (most folks salivate at the thought of getting some of that "mailbox money") but I bet you sure [u]wouldn't[/u] want to give them the right to strip mine for lignite without realizing it. ;-) And make sure you realize the difference between entering into a contract to lease them the property for specified term and purposes -- versus selling them perpetual mineral rights. [/QUOTE]
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