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.