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Addendum For Reservation Of Oil Gas and Other Minerals 44-1 - Texas
| Addendum For Reservation Of Oil Gas and Other Minerals Form. This is a Texas form and can be used in Contracts Texas Real Estate Commission Statewide . |
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PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) EQUAL HOUSING OPPORTUNITY 12-05-11 ADDENDUM FOR RESERVATION OF OIL, GAS, AND OTHER MINERALS ADDENDUM TO CONTRACT CONCERNING THE PROPERTY AT (Street Address and City) NOTICE: For use only if Seller reserves all or a portion of the Mineral Estate. A. "Mineral Estate" means all oil, gas, and other minerals in or under the Property, any royalty under any existing or future lease covering any part of the Property, surface rights (including rights of ingress and egress), production and drilling rights, lease payments, and all related benefits. B. The Mineral Estate owned by Seller, if any, will be conveyed unless reserved as follows (check one box only): (1) Seller reserves all of the Mineral Estate owned by Seller. (2) Seller reserves an undivided % interest in the Mineral Estate owned by Seller. NOTE: If Seller does not own all of the Mineral Estate, Seller reserves only this percentage of Seller's interest. waives does not waive Seller's surface rights (including rights of ingress and C. Seller egress). NOTE: Any waiver of surface rights by Seller does not affect any surface rights that may be held by others. D. If B(2) applies, Seller shall, on or before the Closing Date, provide Buyer contact information known to Seller for any existing lessee. If either party is concerned about the legal rights or impact of the above provisions, that party is advised to consult an attorney BEFORE signing. TREC rules prohibit real estate licensees from giving legal advice. Buyer Seller Buyer Seller The form of this addendum has been approved by the Texas Real Estate Commission for use only with similarly approved or promulgated forms of contracts. Such approval relates to this contract form only. TREC forms are intended for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 512-936-3000 (http://www.trec.texas.gov) TREC No. 44-1. This form replaces TREC No. 44-0. TREC NO. 44-1 American LegalNet, Inc. www.FormsWorkFlow.com
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