Lease-Deed Question

I own a 99 year lease-deed in Noble County that is producing. The operator is saying it will expire in March and revert back to the owner.

I found a clause in the original stating the following: “It is understood and agreed that one half (1/2) of the money rentals which may be paid to extend the terms within which a well may be begun under the terms of said lease is to be paid to the Grantee and in the event that the above described lease for any reason becomes cancelled or forfeited, then and in that even an undivided one-half (1/2) of the lease interest and all future rentals on said land for oil, gas and other minerals privileges shall be owned by the said Grantee he owning one half 1/2 of all oil, gas and other minerals in and under said lands, together with one half (1/2) interest in all future events.” What can I do? This has been in our family a very long time and I would like to keep in our family. Any help would be appreciated.

Jeannie:

If you will provide the Book & Page of the document I will review and give you my 2 cents worth. I am not a lawyer, but have been a landman for 40 years. Maybe I can add some light as to why the operator believes the reservation is about to end.

Todd,

Thanks so much for answering. It’s so nice of you to offer your help. The information you asked for is Book 20, Page 535. Any help would be greatly appreciated. Jeannie Hartman

Jeannie, I tried that book & page but nothing comes up. Are you sure that is correct?

Todd, Yes its the correct book and page, but I’m thinking because it goes back so far that it can’t be viewed on the Noble County Land records. Is there anyway of sending to you?

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