Thanks for the information. I have seen comments about “no warranty” in a lease agreement. I imagine my attorney can write this up for my Exhibit A, but what is a “no warranty” in a lease agreement?
Means you don’t warrant the title to the minerals. So if you accept a bonus consideration for 10.00 acres and you only end up owning 5.00, you aren’t liable for paying back the excess bonus consideration or for any damages the lessee incurs by only having 5.00 acres of leasehold when they thought they had 10.00.
Its just like the warranty on the deed to your house or surface property.