Louisiana  |  Real Estate Law

Legal Question

Asked on: 6/03/08, 5:06 pm

mineral rights

I bought my property on 5/3/85, on my title work it states that ''Vendors reserve to themselves, etc, any an alol oil, gas and other minerals in and under described property''. Now some gas companies are wnating to lease our land, do the vendors still have the rights to the minerals or is there a time limit on this reservation? And if we do decide to lease to gas company what are our rights as to what we will receive monitarily such as lease money, mineral royalties or whatever. This property is located in Caddo Parish, Shreveport, Louisiana.

Thanks

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