Ohio Legal Description and Well or Unit Information are two essential components in understanding the legal aspects and details of properties and oil and gas wells in the state of Ohio. These are crucial for landowners, lawyers, and individuals involved in the oil and gas industry. Here, we will delve into each of these aspects separately. Ohio Legal Description: Ohio Legal Description refers to the detailed and precise written representation of a property's boundaries and location as recognized by the state of Ohio. It serves as an official record to identify and describe a specific piece of land for legal, administrative, and registration purposes. This description typically includes the property's dimensions, boundaries, and any legally significant features such as roads, rivers, or other landmarks. Different Types of Ohio Legal Description: 1. Metes and Bounds: This is one of the most commonly used legal descriptions in Ohio. It defines a property by specifying its boundary lines in terms of distances and angles, starting from a designated point of beginning (POB) and ending at another point of closure (POC). 2. Lot and Block: This legal description is prominent in platted areas, predominantly urban regions or subdivisions, where properties are divided into lots and assigned specific block numbers. Each lot is legally described by identifying the block number and the lot of number within that block. 3. Government Survey: This type of legal description uses the Public Land Survey System (PASS) and its related township, range, and section divisions to describe properties. The PASS is used for describing and locating properties based on the original survey conducted by the federal government. Well or Unit Information: Well or Unit Information pertains to the essential details of oil and gas wells in Ohio, including their ownership, production data, and geographical coordinates. These details are crucial for regulating and monitoring well operations, lease agreements, royalty payments, and environmental assessments. Different Types of Well or Unit Information: 1. Well Ownership: This information includes the names of individuals, companies, or entities that own the oil and gas well in Ohio. It may also involve leaseholders, operators, and working interest owners associated with the well. 2. Production Data: The production data provides information on the well's output, such as the daily or monthly production rates of oil, gas, or other hydrocarbons. This data helps monitor the profitability and overall performance of the well. 3. Geographical Coordinates: The well's geographical coordinates, typically expressed in latitude and longitude, are crucial for accurately locating the well on maps and for identifying its precise position on the Earth's surface. In summary, Ohio Legal Description and Well or Unit Information play vital roles in understanding the specifics of properties and oil and gas wells in Ohio. By providing accurate boundaries, important ownership details, and production data, these aspects ensure legal compliance, transparency, and effective management within the state's oil and gas industry.
Ohio Legal Description and Well or Unit Information
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Ohio real estate sellers are required to give a completed disclosure form to prospective home buyers (that is, to people with whom they might enter into a purchase contract) "as soon as is practicable." (See Ohio Revised Code § 5302.30(C).)
You may have title to mineral rights on a property you own, or they may have been sold or leased by a prior owner, in which case they may not be yours to sell. Real estate law firms can research your chain of title to determine if the mineral rights transferred from owner to owner.
The official text of the administrative agency rules can be found in Baldwin's Ohio Administrative Code, which may be cited in the Courts of Ohio. The Ohio Monthly Record (OMR) gives notice to the public of repealed rules and proposed rules and publishes new and amended rules in chronological order on a monthly basis.
To find the ownership of mineral rights in Ohio is not a difficult activity. It's quite easy as ownership of mineral rights are recorded in any of the 88 county recorder offices in Ohio.
You could expect anywhere from $750/acre to $3,000+/acre depending on your location in the county. If you are currently leased, that will also play a role in how much your mineral rights are worth. As a general rule of thumb, you can expect around 2x to 3x the lease bonus amount.
(A) "Real property," "realty," and "land" include land itself, whether laid out in town lots or otherwise, all growing crops, including deciduous and evergreen trees, plants, and shrubs, with all things contained therein, and, unless otherwise specified in this section or section 5701.03 of the Revised Code, all ...
Do you have to report a death in your home while selling real estate in Ohio? Ohio has no requirement for disclosure of death for property.
If it can be proven that the owner knew about a problem and failed to disclose it on the required form, you might be able to hold them responsible for paying for the repair. If the seller and/or their realtor intentionally defrauded you, you can seek damages amounting to double the cost of repairs.
Ohio sellers must complete the state's five-page residential property disclosure form. In it, you're required to share any knowledge about potential defects that could impact the property's value, or the safety of anyone living at the property. This can include past leaks, the presence of mold, roof damage and more.
Purpose of Disclosure Form: This is a statement of certain conditions and information concerning the property actually known by the owner.
