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I have 640 acres in Utah with a ten year mineral lease. I…

Customer Question
I have 640 acres...

I have 640 acres in Utah with a ten year mineral lease. I have a buyer for the land of which we own owing the bank money. I have a cash buyer that will be 10 days past my bank note which they just said no extensions. Can the bank interfere with my mineral lease with the Utah school trust

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Utah

Lawyer's Assistant: Has any paperwork been filed?

My lease is in full force for 10 years I spoke to the bank 2 months ago and at that time the said if I have a cash buyer or a buyer asking for them to finance. But today they said they changed their minds. No extensions. But can they stop my state lease

Submitted: 7 months ago.Category: Real Estate Law
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Customer reply replied 7 months ago
Can they email the answer as my phone is disconnected
Answered in 5 hours by:
12/6/2017
Real Estate Lawyer: WiseOwl58, Lawyer replied 7 months ago
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,564
Experience: Experienced real estate lawyer and real estate broker.
Verified

You should make them a promise to pay and then they will give you an extension. They will give the extension based on the sales contract. Then you will have time to pay after you close the sale.

Please rate five stars ***** and press send.

A bonus is appreciated after you rate.

Good luck to you. I wish you all the best.

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Real Estate Lawyer: WiseOwl58, Lawyer replied 7 months ago

Checking in to see if you are satisfied with the answer and are ready to close out the question or if you need something else from me.

Thanks and best wishes.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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