Legal Question in Real Estate Law in Louisiana
My purchase agreements states all Oil ,Gas and mineral owned by seller if any , shall be retained by seller ,, property located in terrebonne parish louisiana ,, do the rights transfer to me in 10 years ,, once i own can i deni any surface activity until 10 year period is up.
1 Answer from Attorneys
Make sure no activity at all ocurred concerning the minerals during the 10 yr reservation period. If no activity that would have maintain the rights to minerals in the seller, then they revert to you. During this 10 years you cannot stop surface activity to exercise rights to the minerals, but you can restrict them so they canno run amuke exercising the rights to the minerals. Once you own the mineral rights, you can stop all activity on your land EXCEPT any rights that others own prior to your getting the mineral rights.
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