"I live in Fl Marion Co. I'm buying my first house, then i'm told about someone owning the mineral rights

Question

"I live in Fl Marion Co. I'm buying my first house, one week from closing and i'm told that someone owns the mineral right to my property. what does that mean, can they come and dig up the property?"

Answer 1

yep! they can dig up your property.....they own all the subsurface area of your house. find out who owns it...and for what reasons.

i wouldnt buy the house for that reason. if you decide to sell the house...you will need to disclose this to the new buyers.

i'm surprise the realtor didnt mention this to you.
the listing agent is liable as much as the buyer's agent.

run!!

Answer 2

You need to consult with your Real Estate attorney. A Realtor is NOT qualified to give you that kind of advice, and this varies not only by state, but by COUNTY.

It doesn't necessarily mean that they can come and cause your property to be devalued by digging it up...however, it does mean that let's say, a company owns the mineral rights and 10 years later there is a substantial amount of coal to be dug up. It makes it easier for them to purchase the property back from you at fair market value MINUS the value of the coal...even if it's worth millions...b/c the minerals, don't belong to you.

That is why you need to check with an attorney. Just so you know, this feature 'runs with the land' and there is no way to remove it. You accept it by purchasing it unless you can contact the company and get them to waive their rights, which they won't do, and don't have to do.

Keep in mind, that another reason to consult with an attorney is to find out how common it is....in my old hometown, the ENTIRE county, as well as 6 surrounding counties, all have the mineral rights given to the coal companies, and if you don't want to purchase it because of that, then you'll never own a house in the area.

Gas rights and mineral rights are NOT the same thing. They are separate. There is no such thing as "subsurface" rights, the title must be more specific than that.

Answer 3

It Texas we are dealing with mineral rights quite a bit right now because of the natural gas they have discovered under part of the Dallas/Fort Worth Metroplex.

Here we have found that it is a mix of laws with the city, county and state.

The State allows someone that owns your mineral rights to go get them (by drilling or whatever). If you had 500 acres out in the country they could do just that, but they normally pay you a little something for your inconvenience.

If you are located in a city and within a subdivision there are city laws here that prevent someone from drilling within 300 feet of a home (an the city is changing that to 600 feet right now).

That would prevent anyone from drilling or digging up the minerals directly on your lot. However they could drill half a mile away and tilt the drill so that they can get the gas without disturbing you or your house. Who ever owns the mineral rights would get some money for that gas.

In other words if you live out in the country you might be disturbed by drilling if they ever do that, but in a city it would probably be done so far away from you that you would never know.

Answer 4

Yes, it is very common. You may want to nix the deal. You could also see if you could work out something about the mineral rights, if you really love the property. It's possible that the company may have no more interest in your area, and may be willing to sign them over to you. I'd get a real good lawyer, familiar with all the angles of this, before I signed everything.

Answer 5

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Answer 6

Most land / property today has pre-sold the mineral and air rights .
It means , if you drill for oil or dig for ores , the mineral rights owner will come claim them .
Also , the air rights thing , is usually for licensing placement of communication towers .
So , if the air rights are pre-sold , you can't lease space to a phone company for a comm tower .

The mineral rights owner won't dig up your property ,
They tunnel sideways from other locations . .
And , I suspect , is the periodic cause of sinkholes in Florida .

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Answer 7

Its possiable so make sure you have everyhting in wrighting. Hopefully you have a real estate lawyer.

Answer 8

yes