Buying Land With Mineral Rights
We get lots of phone calls from folks who want to purchase land, either at a sheriff’s sale, at auction, or just from a local seller. They want to know if the mineral rights are included in the sale. These people want to buy land and quickly lease the mineral rights for a sizable signing bonus that can often offset a large portion of what they just paid for the land. In a private...Read More
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Oil and Gas Valuations
It’s always surprising for us to see how our major practice areas come to overlap. Oil and gas law doesn’t have an obvious nexus with estate planning and the probate process. However, given that estate planning typically involves carefully allocating assets to maximize their utility for family or friends, it shouldn’t be a surprise that valuable oil and gas rights might...Read More
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Minimizing Tax Impact of Oil and Gas Royalties
The impact oil and gas leasing has had on Ohio is remarkable. A farmer who struggled to make ends meet one year could find himself with an income tax bill he never imagined the next. Though we Ohioans have been blessed by these essential resources, allocating their value can be troublesome from a financial standpoint. Many people may find themselves unsure of what to do with signing bonus...Read More
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Why Haven’t I Been Offered an Oil and Gas Lease?
Many of our clients seek our expertise in reviewing an oil and gas lease that has been offered to them. These people have been approached by oil and gas companies that are interested in accessing the oil and gas under their land. When reaching out to landowners, these companies usually have a pretty good idea as to whether or not that particular landowner is eligible for an oil and gas...Read More
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Do I Need a Trust?
Estate planning relates to the arrangement of your affairs so that upon your passing your assets will pass to those whom you wish to benefit, while being subjected to the least amount of taxes and transfer costs. Often, too, it speaks of setting things up so that your assets can be professionally managed for the benefit of less sophisticated loved ones when you are gone. A trust is a popular...Read More
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Breaking an old Oil and Gas Lease
How do you determine if your oil and gas lease is still in effect? This is one of the most common questions we receive. It typically comes from landowners who had signed an oil and gas lease many years ago and want to take advantage of the current lease frenzy. That is, landowners who have signed an oil and gas lease in the 1970’s or 1980’s want to know if they are eligible for a...Read More
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