River Trails Homeowners Association

Research will be done

Cheaha land guys put this Saturdays lease signing together on very short notice. The Homeowners Association felt that all the homeowners were tired of waiting and wanted their bonus money as soon as possible. All the title research will be done over the next few weeks and all the checks will be mailed as the work is done.
They did not have a lot of answers because they have not researched the deeds at this time.
Part of our agreement with Carrizo was that homeowners that received bonus money and later found out that they did not have the mineral rights, do not have to repay that money. It is yours to keep no matter what.

hrnm

This is not what the landmen told us Saturday. They said if we signed and we only had 50% of the rights we would only get 50% of the money. They would do the research before we get the checks.

Correct

The reason they are doing the research before they issue the checks is so they have security in issuing the correct amount to the correct mineral owners. Once the check is sent, it will be yours to keep.

Section 7 of lease

Section 7 states that both the bonus and any future royalties will be for the % mineral interest each homeowner owns. I looked at my title policy and there are 2 parties with oil & gas intersts from 1920 & 1954.