what is the best way to handle leases when you have 40 or 50 members of a family that own mineral rights to multiple properties. An LLC, etc? Do companies shy away from leasing properties if there are so many owners/signatures possibly needed?
With my mothers passing, we, the kids, combined all the mineral rights from my father's side of the family and my mother's side of the family and a formed LLC with 5 owners. You should see an attorney and have them set up the corporation and the bylaws so there is no future conflicts. In our bylaws, we said the majority rules to prevent one person in the future from holding things up. Example, say a future grand kid becomes brain washed by the environmental movement and refuses to allow drilling.