Jean Marie Pledger's Answers

I'm trying to purchase a foreclosed home that has an existing mineral & oil lease on it.

I am in California so a Texas lawyer will need to confirm, but this option may be available to you. Here, if the property is small and/or has a home on it, an oil company may be willing to give a surface waiver to you. A surface waiver means that the oil company is waiving its right to use the surface. Thus, the oil company would have to slant-drill to get to the oil under your property. But, if you can get the oil company to give you a surface waiver the lender may agree to loan on the...