2007-11-30 04:45:06 · 3 answers · asked by Joseph W 1 in Business & Finance ➔ Renting & Real Estate
In general, yes you can sell you mineral rights.
However, if by selling the mineral rights you substantially reduce the value of your house and property, then you could face a legal issue.
2007-11-30 04:51:22 · answer #1 · answered by Griffin 4 · 0⤊ 0⤋
In the case of most mortgages, you will be allowed to sell the mineral rights, and most probably will have to turn over the proceeds to the mortgage company. You have just sold some of their collateral, and they're not going to let you devalue their collateral without getting appropriate payment from you.
2007-11-30 14:13:23 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
The mortgage may have restrictions on selling mineral rights, or may not. Usually they require you to maintain the property's value. But you may be able to get a different loan on the property if you can demonstarte the mineral value.
2007-11-30 12:49:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋