Severing wind Rights after contract is signed.

[hpdrifter]

You wouldn’t think a matter between family would have to come to that point 🙁

family is the worst.

[Lone_Wolf]

I thought a contract signed by the buyers and sellers was a legally binding contract under law to execute the sale of the land as stated in the contract. I thought that’s what it’s purpose was.

[AlaskaFlyerFan]

I'd tell them to give up an equal percentage of the mineral rights. They might back down then.

[flywise]

Did the fella buying the place from other family members know about the wind farm?
If he did it seem like a bad way to treat family.......but not surprised

[Lone_Wolf]

Did the fella buying the place from other family members know about the wind farm?
If he did it seem like a bad way to treat family.......but not surprised

Had no clue about the wind farm. Our area isnt even windy. Central Texas. It was in the local paper, and the other side apparently started looking into it and decided they wanted 50% wind rights that same week.

[SmTx]

Sellers need to get bent. They want all the advantages of owning land without the whole owning land part.

[RattlesnakeDan]

If it is prime wind farm area, it is probably only good for jack rabbits anyway. Might be a blessing in disguise.

[RdRdrFan]

They have a contract in place. They can sue for performance if they refuse to sign at closing.

[kae006]

I thought a contract signed by the buyers and sellers was a legally binding contract under law to execute the sale of the land as stated in the contract. I thought that’s what it’s purpose was.

Not sure if you've been reading the replies but that's pretty much what everyone has been telling you.

Seller and buyer are bound by the contract, it should lay out the exact terms for what is and isn't allowed by both parties. If they can't come to an agreement, then that's what the courts are for, family or not.

[flywise]

Had no clue about the wind farm. Our area isnt even windy. Central Texas. It was in the local paper, and the other side apparently started looking into it and decided they wanted 50% wind rights that same week.

Well then, tough luck

[txtrophy85]

As a farm and ranch broker I have two comments:

1. Don’t ask advice from people on forum. You may get accurate advice but a lot of what you are getting is not accurate. It’s not possible from anyone to give advice without seeing the actual contract. Was it a TREC Farm and ranch contract, a custom contract drawn up, etc.

2. Enlist the help of a real estate attorney

[Burnadell]

I would make them close and then charge them any legal fees involved.

...and how do you make them close?

I first read it as they had closed and thought they are just SOL

Then I reread that it was just under contract so probably they can cancel and renegotiate

But if I was concerned in the least I would consult a real estate attorney ASAP

Exactly!

You wouldn’t think a matter between family would have to come to that point ��

No realtor, but the same attorney has done work for all parties involved. What’s the option period?

This won’t happen

I thought a contract signed by the buyers and sellers was a legally binding contract under law to execute the sale of the land as stated in the contract. I thought that’s what it’s purpose was.

Had no clue about the wind farm. Our area isnt even windy. Central Texas. It was in the local paper, and the other side apparently started looking into it and decided they wanted 50% wind rights that same week.

You seem to know a lot about this contract and the deal. Is this really for a "friend" or a family member?

Sellers need to get bent. They want all the advantages of owning land without the whole owning land part.

Isn't that the same with mineral rights?

They have a contract in place. They can sue for performance if they refuse to sign at closing.

Yep. They can sue for specific performance of the contract.

As a farm and ranch broker I have two comments:

1. Don’t ask advice from people on forum. You may get accurate advice but a lot of what you are getting is not accurate. It’s not possible from anyone to give advice without seeing the actual contract. Was it a TREC Farm and ranch contract, a custom contract drawn up, etc.

2. Enlist the help of a real estate attorney

This^^^. I always wonder why people ask for legal advice on TBH. Why isn't your "friend" already talking to an attorney?

[sharpstick35]

Nope, Nope, Nope. I'd back out of that headache asap.

[Lone_Wolf]

Never underestimate the depth of knowledge on this forum. Every once in awhile someone out there actually might know what they're talking about, or have a related experience, and can at the very least point you in the right direction.

[M16]

...and how do you make them close

At closing if they won’t sign I get them in a headlock and bend their arm behind their back. Until they cry uncle. Or in this case I might make them cry aunt or cousin or grandma or ...................


Works everytime unless they are bigger and meaner than me.