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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: 4 months ago.Category: Real Estate Law
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Customer reply replied 4 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 4 months ago
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,415
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 4 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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Category: Real Estate Law
Satisfied Customers: 4,415
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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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