I inherited minerals rights from my father. My uncle who was the executor of the will signed a gas lease with a company and 4 other siblings signed ratifications. What does that mean? Now that the lease is up for renewal the company has just sent checks out, so my sister and I think we are locked in.
Ms. Shulze, you need to read a copy of the lease. Pay close attention to to anything about option to extend. If your uncle had the right to enter into the lease and bind you to it, there is nothing you can do at present if the lease contained an option to extend and the lessee is exercising the right to extend. If the lease has expired and the lessee wants to renew (not the same as extend) the lease, and you have not cashed any checks, you should be free to negotiate, with the previous lessee or a new one.