at the time of purchase my mineral rights on my property were worth nothing?

Question

And it was never mentioned in my mortgage,now i have minerals that can be exstracted,i feel that if i want to sell my mineral rights,lease them,transfer them to a family member it shouldnt have anything to do with my mortgage company that loaned money to me to be the owner of my house and property.im just playing with this but say a "ficus"tree somehow grows on my property which might increase its value,would my mortgage company have say if i wanted to cut it down or sell it.....

Answer 1

Your 'surface ownership' rights are separate from mineral rights, so your analogy does not work here. What you suggest doing is creating another 'piece of property' which lies directly below your current surfact property. You own both at this time, and both are collateral for your mortgage.

Another analogy which DOES work is if your home happens to be on a very large lot, and you desire to sell off part of the land for another home to be constructed or whatever. You can't do THAT without mortgagor permission, and you can't do it with mineral rights either, unless they grant permission.

If they DO grant permission, chances are that they will include, as part of the agreement, that any monies you receive will go to them to offset their potential loss in value of the entire collateral.