a bough a forclosure home and the prior owner sign a lease, does he get to keep the mineral rights or do they transfere to me?
If the previous owner signed a lease he will still retain the mineral rights even if the property was foreclosed.. If the bank did not specifically reserve the mineral rights at the time of sale to you (I know of one bank that does reserve the mineral rights), and the mineral rights are still with the property, they will automatically transfer in the TREC 1-4 family residential contract.
Alama,
Tough to tell. They could have sold the mineral rights before you purchased the property. The bank or lien holder could have sold them. They don't always stay with the property. It is possible you have them too. If all contracts were quiet with regards to them, they may have passed on to you. The only way to know for sure is to hire a landman to search the mineral rights records.
Alma,
If it was a foreclosure then the mineral rights (if there were any) would stay with the property. The Foreclosure Bank would not keep them and the owner who was foreclosed on would not get to make money when they caused they bank to lose money. Now, if the previous owner had a prior lease then the royalties and signing bonus he might be able to keep depending on the situation. The "mineral rights" and the signing of a Lease are two different entities. Please consult a mineral rights attorney for more info.
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