Written By: William Doering, Associate Edited By: Zach Eccleston, Partner; and Courtney Evans, Managing Title Examiner Valuation is an important part of owning any type of property. It is defined as the process by which property is examined and given an estimated monetary value.1 Putting a monetary value on property such as artwork can provide […]
Continue reading…Case Study / Reservation Clauses and the Right to Receive Rental Payments (Ohio)
In June of 2020, the Supreme Court of Ohio held in LRC Realty, Inc. v. B.E.B. Properties, Slip Opinion No. 2020-Ohio-3196 that absent an express reservation, the right to receive rental payments runs with the land and follows legal title. A brief recitation of the facts in LRC Realty, Inc. follow herein. In 1994, B.E.B. […]
Continue reading…Article / Production in Paying Quantities in Ohio: How Much Is Enough?
The habendum clause of an oil and gas lease establishes the period of time for which the rights given in the granting clause will extend. John S. Lowe, Oil and Gas Law in a Nutshell, at 192 (5th ed. 2009). Modern habendum clauses typically provide for a primary term, during which the lessee has no […]
Continue reading…Article / The Dynamics of COVID-19 and Force Majeure Clauses in Ohio Oil and Gas Leases
“Force Majeure” is a French term and literally means superior force. Haverhill Glen v. Eric Petroleum Corp., 2016-Ohio-8030, 67.N.E.3d 845 ¶ 25 (7th Dist.). It is commonly defined as an event or effect that can be neither anticipated nor controlled. Black’s Law Dictionary 673-674 (8th Ed. 2004). Moreover, force majeure clauses are typically included in […]
Continue reading…Article / Texas Liens Against Mineral Property
Although not as volatile as prior years, last year’s lower oil and gas prices hit the earnings of many operators and service providers—and there is no relief in sight with oil prices down 13% since the start of the year after a sluggish global economy and the coronavirus curbed demand. 2020 could be an interesting […]
Continue reading…Case Study / Extinguishment of Oil and Gas Interests Under the Ohio Marketable Title Act
The Marketable Title Act In 2016 the Ohio Supreme Court held in Corban v. Chesapeake Exploration, LLC (2016-Ohio-5796) that the 1989 Dormant Mineral Act (“DMA”) (O.R.C. § 5301.56) was not a self-executing statue. Since then surface owners have been turning to the Ohio Marketable Title Act (“MTA”) (O.R.C. § 5301.47-5301.56) as an alternative option to […]
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