Posted by Janicholson on March 14, 2008 at 17:17:11 from (66.173.50.50):
In Reply to: Help! Mineral Rights posted by Pajamafied John on March 14, 2008 at 14:02:13:
Minerals include way many things. If you lease the property's mineral rights (best bet), be sure to specify in clear and limited terms what is to be drilled for, and what can be extracted, and for how long. Be specific to include an adjustment of royalties based on value of well head production into the future. (in the event that producing wells are drilled, the wholesale price of the commodity may double, make sure your payment also doubles. Remember undefined "minerals" include sand and gravel, you could end up owning a pit in the ground! JimN
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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