|
Seller expressly
excepts from this conveyance and reserves unto Seller,and to seller's heirs and assigns, all of seller's right title
and interest in and to all of the oil, gas and other minerals (including without limitation oil, gas, hydrocarbons, sulfur,
coal, lignite and uranium) in, on and under the property to be conveyed, including any and all royalties, bonus amounts,
delay rentals and other payments due and payable under any existing or future oil, gas or mineral lease. Mineral Reservation Contract Provisions Seller Reservation of Mineral Rights Mineral Rights to reserve your mineral
rights you must attach an addendum to the contract
|
If the contract
does not address the mineral rights, And the Seller owns the mineral rights they will convey to the new owner. If the seller wants to reserve the mineral rights that they own the must put it in the contract. You
also need to make sure at closing that they were reserved in the Deed. Very important.
|
|
Seller agrees that he will not use or occupy any portion of the surface of the property for the purpose of drilling
wells, the development and transmission or storage of oil, gas or other minerals or the exploration, drilling or development
of and production of oil, gas or other minerals substance, and will not place any fixtures, equipment, buildings or structures
of any kind on the surface of the property. However, nothing herein contained shall be construed as waiving, releasing or
relinquishing any right, title or interest of Seller in and to the oil and gas and other minerals reserved herein or the Seller’s
right to exploit, develop or produce such oil , gas and other minerals with wells drilled at surface locations off the property
by means of directional drilling or any other method which does not require use of the surface of the property described above.
Seller shall also have the right to pool or utilize said oil, gas or other minerals with other lands located outside the boundaries
of the property. Seller waives the other rights of ingress and egress in and to the property, but seller reserves the right
to (1) explore for produce oil for and produce said oil, gas and other minerals by means of directional drilling from surface
locations outside the boundaries of the property provided that any wells bottomed beneath the property shall be bottomed at
least 300 feet below the surface thereof and (ii) pool or utilize said oil , gas and other minerals with other lands located
outside the boundaries of the property.
|
Video's--Watch 1000's of video's. Once you click on to one of the ones below you can
look to the left and pick out you favorite artist. Click on the letter of there first name.--Enjoy
|
|
Warning; If Seller has executed a lease to a third
party, or if Seller does not own all the mineral interest, the Seller cannot waive the surface rights as to all of the mineral
estates, he does not own all the mineral estate. If there are any questions concerning owner ship of the minerals, or the
effect of the language set forth above the Buyer and Seller need to consult an attorney of their choice. The interpretation
of the rights of the parties is a legal issue and therefore is outside my role as a real estate agent.
|
|
Residential Homes