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in 1980 I purchased 80 acres in cheboygan michigan the sellar wanted to retain 1/2 of th

Resolved Question:

in 1980 I purchased 80 acres in cheboygan michigan
the sellar wanted to retain 1/2 of the mineral rights since then I have heard that he could only hold them for ten years , is this true ? if so what are my options? & how do I find the info I need? thanks for you're help.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Jack R. replied 1 year ago.

Thank you for using Just Answer.

 

Some of the rights can only be held for 20 years. Under Michigan's Dormant Minerals Act, severed oil or gas rights revert to the surface owner after twenty years, unless one of the following actions have occurred within the 20-year period:

• The severed interest is sold, leased, mortgaged, or transferred by recorded instrument.

• A drilling permit is issued.

• Oil or gas is actually produced or withdrawn from the severed holdings. • The interest is utilized for underground gas storage operations; or

• A record claim of interest is filed with the county Register of Deeds.

 

Mineral rights other than gas and oil are owned until sold or otherwise transferred by the owner.

 

If you found this answer useful please press the appropriate quality of service button of 3 or greater. This is needed so I can get credit for my answer. If you have follow up questions please ask.

 

This communication does not establish an attorney-client relationship.Information provided here is not legal advice. Rather it is simply general information.

Customer: replied 1 year ago.

The way I understand it is if nothing has been done on the property pertaining to minerals meaning gas or oil after twenty years the mineral rights revert back to me, am I correct?

Expert:  Jack R. replied 1 year ago.

Only the oil and gas rights revert back to you.

 

.

If you found this answer useful please press the appropriate quality of service button of 3 or greater. This is needed so I can get credit for my answer. If you have follow up questions please ask.

 

This communication does not establish an attorney-client relationship.Information provided here is not legal advice. Rather it is simply general information.

 

Jack R., Attorney
Category: Estate Law
Satisfied Customers: 6147
Experience: Part of the 'Save the Dream
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