One aunt, 15 cousins and I have recently learned that we own mineral rights in a Belmont County farm property that passed down to us when two prior family members died intestate.
Ascent has found us and offered to lease our rights. We are entirely new at this. Approximately 250 heirs share in these rights so no one is going to make a fortune.
My worry is that the contract I received does not mention any release from liability. If I agree to industrial development of “my” oil and gas, and that development at some point results in environmental damage or damage above or below the surface do I hold some liability?
Would I be nit picky in asking for a paragraph in the lease that releases me as the lessor from any future damage claims that are a result of mining the minerals? The agent says that surface owners need liability protection but mineral rights owners do not. It seems to me that if I am a part of the profits I am a part of the responsibility unless I have a contract that places all responsibility with the developer.