buying property oil rights already leased

Answer 1

You didn't mention if you are buying the mineral rights also. If you are purchasing the minerals also the lease has no affect on your ownership but as long as the lease is in affect you can not lease it again nor negotiate any part of such lease as the lease is in full force and binding just as if you were the one who signed it. The lease holder should transfer the show of ownership to you as soon as you send them a copy of the deed. If you are not purchasing the minerals also then it could be an issue if he already made a deal on any surface.

Tim Metz

I buy mineral rights and interest in North Dakota, Oklahoma, Colorado and other states

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