I have recently inherited several mineral rights all leased with 4 different companies. I have many questions as this is all new to me.
1) Why isn't there a maturity date on the leases? My wife is a commercial banker and she has never seen a lease or a loan without a maturity date. We both find this curious and a little disconcerting.
2) Who decides on the percentage of royalty that the Lessor will receive? The percentage stated on one of the leases is far more than what is currently being received.
3) When a lease is taken over by another company, why isn't the lease ratified or a new lease signed with the Lessor?
4) How can a Lessee collect mortgage, taxes or liens from me if I only have mineral rights not property rights?
5a) I do not have a copy of all the leases with the various companies. When I asked one of the Lessees for a copy of the lease, I was ignored. What rights do I have as an Lessor when dealing with the Lessee?
5b) Is there a way to find and obtain a copy of the lease?
I appreciate any help that you can give me.