Buddy,
The owner told me he only has 50% of the minerals after he re-read the sales documents from when he purchased the property in 1999. With that being said, even if he gives away the right of ingress and egress, the person who has the other 50% has not. What kind of control do I have then? Thanks for all of your replies!!!
PS Some of this may be over my head but I am trying to learn what I can. Thanks!
Buddy Cotten said:
Dear Tony,
Quoting your original question below, you do not have to be concerned about the executive rights at all. Have the seller retain all of the other attributes of the mineral estate, less the right of ingress and egress, which is conveyed to you.
The rights of ingress and egress are one of the attributes of the mineral estate that people seem to forget about. I started seeing a reservation of that type about 25 years ago in Brazos County, Texas.
If you are conveyed that portion of the attributes of the mineral estate, then you have total and complete control to allow an oil company on your property.
It might be a tough sale to the Grantor, because without the right of ingress and egress, minerals could be rendered essentially worthless, depending on tract size and shape.
Discuss this with your lawyer and follow his advice.
Best
Buddy Cotten Mineral Manager
tony b. said:
My original question was, what, if any, rights do we have in what goes on in the future and what, if any, language can be put in the sales contract to protect us. Thanks for any advice!