# Letter of Intent to Purchase Mineral Rights
**URL:** https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782
**Category:** Law & Legal
**Created:** [August 13, 2019, 8:15pm UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782 "2019-08-13T20:15:19Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@Debbie\_Storm](https://www.mineralrightsforum.com/u/Debbie_Storm)
#### Post date: [August 13, 2019, 8:15pm UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/1 "2019-08-13T20:15:19Z")
On July 12, I signed a Letter of Intent to Purchase Mineral Rights with Southwest Energy. The letter stated that within 15 business days of receipt, Grantee will conduct a title review. It is August 12, and Southwest has not replied to my request for the status on the title review. I’ve called three times and texted them 3 times and still no reply. Am I legally bound to this agreement even though I haven’t received or signed the mineral deed to Southwest? Property is in Stephens County, Oklahoma, Section 26, Township 2S, Range 4W, 40 nma $8,100 per nma
Your response would be greatly appreciated Debbie
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### Author:  [@Richard\_Winblad](https://www.mineralrightsforum.com/u/Richard_Winblad)
#### Post date: [August 13, 2019, 8:43pm UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/2 "2019-08-13T20:43:37Z")
Sounds like a breach. I would withdraw your letter of acceptance via certified mail. May need attorney involvement.
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### Author:  [@Michael\_Sears](https://www.mineralrightsforum.com/u/Michael_Sears)
#### Post date: [August 13, 2019, 9:08pm UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/3 "2019-08-13T21:08:02Z")
What does the Letter of Intent say? Some have an “out” for both parties if XYZ happens. Some also only have an out for the buyer.
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### Author:  [@Debbie\_Storm](https://www.mineralrightsforum.com/u/Debbie_Storm)
#### Post date: [August 14, 2019, 3:05am UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/4 "2019-08-14T03:05:47Z")
Richard, just spoke with my attorney and he also did not believe the letter of intent was binding. First, they had 15 days to check title and either object to the title or pay, and they have done neither. Second, the copy of the letter of intent that I have is unsigned by Chasen (landman). Third, the deal is made contingent “on the entire mineral interest being leased at 25% royalty,” which is completely vague. And since I’ve tried to contact them several times with no response. So I sent Chasen an email and text stating that the letter of intent is not in effect.
The property that I own in Stephens County is in a popular location. Next time I will be more selective. Or maybe even think twice about selling. 🤷♀️
Richard thank you for your reply, Have a nice day!
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### Author:  [@Richard\_Winblad](https://www.mineralrightsforum.com/u/Richard_Winblad)
#### Post date: [August 15, 2019, 3:03am UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/5 "2019-08-15T03:03:01Z")
> [@Stephens County OK](https://www.mineralrightsforum.com/t/stephens-county-ok/48971/9):
>
> So I sent Chasen an email and text stating that the letter of intent is not in effect.
Good idea. You were probably dealing with a company that flips leases or purchases. Have your attorney review the next offer.
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### Author:  [@MRFAdmin\_SV](https://www.mineralrightsforum.com/u/MRFAdmin_SV)
#### Post date: [January 11, 2025, 7:28pm UTC](https://www.mineralrightsforum.com/t/letter-of-intent-to-purchase-mineral-rights/49782/6 "2025-01-11T19:28:53Z")