Louisiana Mineral Owner Consent Agreement (to Underground Gas Storage Lease and Agreement)
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How to fill out Mineral Owner Consent Agreement (to Underground Gas Storage Lease And Agreement)?
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FAQ
How long can you keep mineral rights in Louisiana? The lessee of mineral rights can only keep those rights for 10 years before they revert to the owner. This is ing to the law in Louisiana.
Conventional Wisdom Says Never Sell After all, simply owning mineral rights costs you nothing. There are no liability risks, and in most cases, taxes are assessed only on properties that are actively producing oil or gas.
Unlike other states, Louisiana mineral rights revert back to the original owner after 10 years from the date of sale or from the date of last production. Special care must be taken when dealing with Louisiana Mineral Rights in Louisiana because of Louisiana's Napoleonic law system.
In Louisiana for example, if you sell land, you may retain ownership of the minerals beneath it for a period of 10 years and one day at which time you must transfer such mineral rights to the current owner of that tract of land, but only if that owner has retained the land for the same period of time.
Yes, mineral rights can expire. There's no one answer to when they'll expire or how long they last. All agreements have different term lengths.