# Company backing out of deal
**URL:** https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663
**Category:** Law & Legal
**Created:** [January 9, 2020, 2:44am UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663 "2020-01-09T02:44:52Z")
**Posts on this page:** 8
**Page:** 1
### Author:  [@mburleson](https://www.mineralrightsforum.com/u/mburleson)
#### Post date: [January 9, 2020, 2:44am UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/1 "2020-01-09T02:44:52Z")
Antelope Gas and Energy in Oklahoma made an offer to buy two of my mineral properties in Caddo County, Oklahoma. Antelope sent a deed, which I notarized, signed, and returned promptly. I was promised I would receive payment within 45 banking days. After not hearing from them for 2 months, I called and was assured the deal was still on. Two more months passed with nothing. I called today and learned they had backed out of buying. My first question is - can they legally do this? Second, is there some risk to me if they keep the deed and attempt to find a buyer? The landman offered to send the deed back to me. Thank you for any help you might offer in this situation.
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [January 9, 2020, 3:45am UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/2 "2020-01-09T03:45:06Z")
You have been “flipped”! Never hand over a deed without money in hand. Antelope is a broker that tried to sell your acreage before they paid for it. Get your deed back and report them to the BBB. There is no recourse short of a lawsuit, and that will probably get you nothing but legal fees.
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### Author:  [@Cole](https://www.mineralrightsforum.com/u/Cole)
#### Post date: [January 9, 2020, 2:46pm UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/3 "2020-01-09T14:46:22Z")
Nothing they did was illegal unfortunately. You would have to have some sort of contract stating if they back out, you get something from it. Just ask that they send that deed back to you. It happens all the time in this business. Since they didn’t file it, it’s not in records and doesn’t affect your ownership.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [January 9, 2020, 4:37pm UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/4 "2020-01-09T16:37:02Z")
Request for your deed back by certified return receipt mail so that you know that the land man received the notice. Next time, do not hand over a deed (or a lease) without getting paid.
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### Author:  [@mburleson](https://www.mineralrightsforum.com/u/mburleson)
#### Post date: [January 9, 2020, 10:45pm UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/5 "2020-01-09T22:45:16Z")
Thank you, M Barnes, for your most helpful advice. I spoke to the land man this morning, and my deed is now in the mail back to me. Next time, I may check with Mineral Rights Forum before I do anything.
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### Author:  [@mburleson](https://www.mineralrightsforum.com/u/mburleson)
#### Post date: [January 9, 2020, 10:48pm UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/6 "2020-01-09T22:48:38Z")
Thank you, Cole, for responding to my questions. Your advice, along with a couple of others, was very helpful to me. I spoke to the land man this morning, and he is mailing my deed back to me.
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### Author:  [@mburleson](https://www.mineralrightsforum.com/u/mburleson)
#### Post date: [January 9, 2020, 11:00pm UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/7 "2020-01-09T23:00:00Z")
Todd, Thank you so much for your help and for clarifying what actually happened. As a novice, I had no idea that a company would not pay once they had a notarized deed. That had never happened in any of the sales my husband and I made in the past several years. Anyway, it’s a good learning experience and one I won’t forget. I spoke to the land man this morning, and he was going to get the deed in the mail to me today. Again, thank you.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [March 9, 2020, 2:44am UTC](https://www.mineralrightsforum.com/t/company-backing-out-of-deal/54663/8 "2020-03-09T02:44:55Z")
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