Texas - Oil & Gas

摘要

Discovery Rule Enables Late Suit to Enforce Preferential Right Carl M. Archer Trust No. Three v. Tregellas, No. 17-0093, 2018 WL 6005071 (Tex. Nov. 16, 2018), rev'g 507 S.W.3d423 (Tex. App.-Amarillo 2016), involved a preferential right to purchase the oil, gas, and other minerals in a tract of land in Hansford County, Texas. The preferential right arose from a 2003 deed from the Cook family to the trustees of the Archer trusts, providing that if the grantors should desire to sell the property, the Archer trusts would have the right to purchase it at the same price and on the same terms as offered by any other bona fide buyer. Id. at*l.