Legal Question in Real Estate Law in Louisiana

mineral rights

I bought my property on 5/3/85, on my title work it states that ''Vendors reserve to themselves, etc, any an alol oil, gas and other minerals in and under described property''. Now some gas companies are wnating to lease our land, do the vendors still have the rights to the minerals or is there a time limit on this reservation? And if we do decide to lease to gas company what are our rights as to what we will receive monitarily such as lease money, mineral royalties or whatever. This property is located in Caddo Parish, Shreveport, Louisiana.

Thanks


Asked on 6/03/08, 5:06 pm

2 Answers from Attorneys
Nick Pizzolatto, Jr. Pizzolatto Law Office

Re: mineral rights

The reservation should have ended in 10 years as long as there was no interruption by the exploration for minerals.

Read more
Answered on 6/04/08, 8:43 am
Nick Pizzolatto, Jr. Pizzolatto Law Office

Re: mineral rights

The reservation should have ended in 10 years as long as there was no interruption by the exploration for minerals. As far as what compensation you should receive, that is up to you. You should get something per year for the lease because you are tying up your land with that company and then a royalty on whatever minerals are taken.

Read more
Answered on 6/04/08, 8:50 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Louisiana