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Author Topic: You will sell your mineral rights for your own good:  (Read 846 times)
buzzbee
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« on: August 13, 2010, 06:48:48 AM »

Another assault on "private" property owners. I would like to know who determines a fair price and what happens if you don't sell?
http://www.businessweek.com/ap/financialnews/D9HHHGCO0.htm

This falls within the abuse of eminent domain forcing people to sell to a commercial industry.It was set up for things like highways, railways, defense bases and stuff like that. Not to help a business take what you own and a bureacracy to determine"fair value".
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Jerrymac
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« Reply #1 on: August 13, 2010, 09:49:12 AM »

Did you know that in some states a "property owner" may not actually own the mineral rights?
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« Reply #2 on: August 13, 2010, 09:54:29 AM »

a lot of states don't sell mineral rights.  lots don't sell water rights either.  you own the land, but not whats under/in it.

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"Nay, it [this constitution of government] must perish, if there be not that vital spirit in the people, which alone can nourish, sustain, and direct all its movements. It is in vain, that statesmen shall form plans of government, in which the beauty and harmony of a republic shall be embodied in visible order, shall be built up on solid substructions, and adorned by every useful ornament, if the inhabitants suffer the silent power of time to dilapidate its walls, or crumble its massy supporters into dust; if the assaults from without are never resisted, and the rottenness and mining from within are never guarded against. Who can preserve the rights and liberties of the people, when they shall be abandoned by themselves? Who shall keep watch in the temple, when the watchmen sleep at their posts? Who shall call upon the people to redeem their possessions, and revive the republic, when their own hands have deliberately and corruptly surrendered them to the oppressor, and have built the prisons, or dug the graves of their own friends?

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« Reply #3 on: August 13, 2010, 03:25:44 PM »

I looked at some land once that the man selling was keeping the mineral rights for himself, just selling the land.   He had a gravel quarry on it and was eventually going to dig the whole place up selling gravel.   What good was that land he was selling?
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winginit
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« Reply #4 on: August 20, 2010, 09:18:45 AM »

When we bought our house, I asked the escrow agent about the mineral rights. He didn't know the answer and said that no one had ever asked the question!
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