New member here, I received a lease agreement as one of many heirs for a just a couple of acres in Southeast Ohio. Until this, I was not aware that I was an heir to this property. The representative from the oil and gas company mentioned very small dollar amounts on the order of $100 signing "bonus" and roughly $100/year in royalties.
However, my first instinct is to just say no, since those dollar amounts it is not even worthwhile getting an expert/legal opinion on the lease agreement.
My question is what do I lose by lack of action or telling the oil and gas company "no"? I know nothing about oil and gas leases, but would not expect that one very small "holdout" on a lease has much leverage. Could I somehow lose "title" (I not sure of the right word) to my inherited land? Is there action I have to take to prevent this?
Thanks so much for reading this.