Seller expressly excepts from this conveyance and reserves unto Seller,and to seller's heirs and assigns, all of seller's right title and interest in and to all of the oil, gas and other minerals (including without limitation oil, gas, hydrocarbons, sulfur, coal, lignite and uranium) in, on and under the property to be conveyed, including any and all royalties, bonus amounts, delay rentals and other payments due and payable under any existing or future oil, gas or mineral lease.  

 

 

Mineral Reservation Contract Provisions

 

Seller Reservation of Mineral Rights ( add to Special Provisions)

 

     Seller expressly excepts from this conveyance and reserves unto Seller, and to Seller’s heirs and assigns, all minerals, oil and gas owned by Seller (including but not by way of limitation oil ,gas, sulfur, coal, lignite and uranium) in, under and that may be produced from the property to be conveyed, including all royalties, bonus and delay rentals due and payable under any applicable oil, gas and mineral lease covering said land, including any and all surface rights and executive rights.

If the contract does not address the mineral rights, And the Seller owns the mineral rights they will convey to the new owner.

If the seller wants to reserve the mineral rights that they own the must put it in the contract. You also need to make sure at closing that they were reserved in the Deed. Very important.

Waiver of Surface Rights ( add to language above)

 

  Seller agrees that he will not use or occupy any portion of the surface of the property for the purpose of drilling wells, the development and transmission or storage of oil, gas or other minerals or the exploration, drilling or development of and production of oil, gas or other minerals substance, and will not place any fixtures, equipment, buildings or structures of any kind on the surface of the property. However, nothing herein contained shall be construed as waiving, releasing or relinquishing any right, title or interest of Seller in and to the oil and gas and other minerals reserved herein or the Seller’s right to exploit, develop or produce such oil , gas and other minerals with wells drilled at surface locations off the property by means of directional drilling or any other method which does not require use of the surface of the property described above. Seller shall also have the right to pool or utilize said oil, gas or other minerals with other lands located outside the boundaries of the property. Seller waives the other rights of ingress and egress in and to the property, but seller reserves the right to (1) explore for produce oil for and produce said oil, gas and other minerals by means of directional drilling from surface locations outside the boundaries of the property provided that any wells bottomed beneath the property shall be bottomed at least 300 feet below the surface thereof and (ii) pool or utilize said oil , gas and other minerals with other lands located outside the boundaries of the property.

Warning;

      If Seller has executed a lease to a third party, or if Seller does not own all the mineral interest, the Seller cannot waive the surface rights as to all of the mineral estates, he does not own all the mineral estate. If there are any questions concerning owner ship of the minerals, or the effect of the language set forth above the Buyer and Seller need to consult an attorney of their choice. The interpretation of the rights of the parties is a legal issue and therefore is outside my role as a real estate agent.

 

 

Roy L. Robertson--Real Estate Agent

Buyers Agent

Sellers Agent

Call the best and beat the rest

Residential Homes

                      Pre-Owned or New

                      Commercial Leases