Legal Question in Real Estate Law in Louisiana
We sold our farm land in Louisiana in 1997, and as per the contract, it is stated that we retained 100% of the mineral rights. There is no date of expiration of those mineral rights on said contract. Is it true that in the State of Louisiana it is LAW and just KNOWN that mineral rights would expire in 10 years from date of sale ? ( pending any interruption ) Please advise and thank you .....
1 Answer from Attorneys
Assuming your deed stated that "seller reserves all minerals rights," and no specific time limit is placed on the mineral reservation, then at the 10 year anniversary of the sale, the "reservation of minerals" ceases unless there has been some production of minerals in the 10 year period. Minerals cannot be permanently severed from the surface rights in Louisiana and 10 years is the prescriptive period for minerals to revert to the buyers. So, if no production since the sale in 1997, it appears that in 2007 your reservation of minerals ended and the buyer then owns all rights to the property, including minerals.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
