We have 12 mineral rights owners and one is holding out to get more money and the rest of us want to take the offer presented. What are the reprocussions if we go ahead without the stubbon party? We are in Stark County, ND.
I don’t know the rules in ND, but in Arkansas my mother was one of six children heir to mineral rights. She was the only living child at age 83 and the others were nieces and nephews. She and signed for her 1/6th share. A nephew signed with a different company for his 1/6th share, a niece refused to sign and her share went through forced integration, to give you an idea. Once a company has 51% of the mineral rights, it is a snowball down hill for the rest. It seems like of 11 of you want to go for it, each could sign their 1/12 and let the let the stubborn party stay at home. Is this 12 family members or 12 business investors? Leasing is small $$$ compared to royalty checks over a period of a few years. Is the holdout due to bonus per acre, or is it the percentage of production?
Mineral rights are undivided interests, so each individual owner is generally free to do whatever they like. In situations where the mineral rights have not been distributed through a North Dakota probate, the leasing party probably wants to lease all of the apparent heirs just to be safe.