Legal Question in Real Estate Law in Texas
mineral rights
I am considering buying a house that has leased their mineral rights to a gas company. Is this a good buying situation in which they will assign or tranfer their lease into my name so that i will have the mineral rights to the property. What should i do to assure that this is done properly and legally to my best interest? Would you buy the property still?
2 Answers from Attorneys
Re: mineral rights
It depends. Is there a producing well on the property and will it interfere with your use? If you want the lease transferred, be sure the conveyance document is complete and effective. It is best to have an attorney review.
Re: mineral rights
Better make sure the oil company does not have the right to drill on your homesite. Need a surface waiver. A lawyer needs to examine the lease.
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