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Natural Gas, Oil, Minerals Q&A Answers
WHAT IS THE DIFFERENCE BETWEEN A LEASE AND A CONVEYANCE, OR SEVERANCE?
By: bburburski | 2009-12-31 16:59:22Unlike a LEASE, which grants limited use of the minerals specified by the land owner, A CONVEYANCE transfers the MINERAL ESTATE, which is under the surface of your land to the buyer. YOUR RIGHTS TO THE MINERALS UNDER YOUR SURFACE LAND COULD BE LOST FOREVER!!!
A severance is much the same in that you are being paid for the rights to your gas/oil. Although the up-front money may look very attractive, it is all you will get. Any royalties and possibly minerals will go to the company you signed the severence with... permanently.
Again, it is critical that you consult with a qualified gas attorney BEFORE signing anything!
Answers are provided for educational or information purposes only. It is critical to seek qualified legal counsel before making any decisions affecting your property or mineral estate.
