Texas Property Code
§ 5.151 — DISCLOSURE IN OFFER TO PURCHASE MINERAL INTEREST
PR § 5.151Title 2. CONVEYANCES · Ch. 5. CONVEYANCES · Art. F. REQUIREMENTS FOR CONVEYANCES OF MINERAL OR ROYALTY INTERESTS
Statute text
View on source(a)A person who mails to the owner of a mineral or royalty interest an offer to purchase only the mineral or royalty interest, it being understood that for the purpose of this section the taking of an oil, gas, or mineral lease shall not be deemed a purchase of a mineral or royalty interest, and encloses an instrument of conveyance of only the mineral or royalty interest and a draft or other instrument, as defined in Section 3.104, Business & Commerce Code, providing for payment for that interest shall include in the offer a conspicuous statement printed in a type style that is approximately the same size as 14-point type style or larger and is in substantially the following form: BY EXECUTING AND DELIVERING THIS INSTRUMENT YOU ARE SELLING ALL OR A PORTION OF YOUR MINERAL OR ROYALTY INTEREST IN (DESCRIPTION OF PROPERTY BEING CONVEYED).
(b)A person who conveys a mineral or royalty interest as provided by Subsection (a) may bring suit against the purchaser of the interest if:
(1)the purchaser did not give the notice required by Subsection (a); and
(2)the person has given 30 days' written notice to the purchaser that a suit will be filed unless the matter is otherwise resolved.
(c)A plaintiff who prevails in a suit under Subsection (b) may recover from the initial purchaser of the mineral or royalty interest the greater of:
(1)$100; or
…
Legislative history
Added by Acts 1999, 76th Leg., ch. 1200, Sec. 1, eff. Sept. 1, 1999.