What exactly is a stipulation of interest. Received this document regarding a property in Midland, TX. The property is currently leased with another company and this land company apparently wants to drill and is asking us to sign this document. Since we have a lease on this property what does this mean?
You can tell what they are wanting you to stipulate by carefully reading the document. There are all kinds of stipulations.
Most likely it means there is some confusion between what you and another party exactly own. Sometimes this is because of vague or confusing conveyance language in a deed. The Stipulation should tell you what the issue is and why it is necessary. Note that the Stipulation could change the amount of interest you own if you sign it so you should be clear about exactly what it says.
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