It seems TD has been caught misstating the facts a
Post# of 39368
Posted On: 04/12/2014 1:28:07 AM
It seems TD has been caught misstating the facts again! The lien on a well is attached to the land not to the minerals, so Treaty can sell the oil/gas produced.
Quote:
Texas Mineral Lien Law Update
Liens Against Mineral Property
Chapter 56 - Texas Property Code '' 56.001 et seq.
Production and Proceeds
There is generally a considerable passage of time between the date a lien claimant secures its lien and the date the claimant actually sees the property sold to satisfy the debt. During this time, oil and/or gas is usually being produced and sold from the well. This production is obviously depleting one of the most valuable assets to which the lien has attached, raising questions about whether the value of the leasehold will be sufficient to satisfy the lien if the property is ever sold. The problem is that the lien does not attach to the oil and gas produced from the well or the proceeds from its sale.
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