Texas Supreme Court Rules That Trustee Is Not Liable For Fraud In Leasing Minerals Due To "Red Flags" And Express Contradictory Language That Negated Justifiable Reliance

03.25.18

In JPMorgan Chase Bank, N.A. v. Orca Assets G.P., a trustee leased minerals to a leasee. No. 15-0712, 2018 Tex. LEXIS 250 (Tex. March 23, 2018). That leasee did not immediately record the lease. The trustee's agent then signed a letter of intent to lease tracts from the same area. When the new lease signed...… Continue Reading

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