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Author Topic: You will sell your mineral rights for your own good:  (Read 1043 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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.....The greatest changes occur in their country without their cooperation. They are not even aware of precisely what has taken place. They suspect it; they have heard of the event by chance. More than that, they are unconcerned with the fortunes of their village, the safety of their streets, the fate of their church and its vestry. They think that such things have nothing to do with them, that they belong to a powerful stranger called “the government.” They enjoy these goods as tenants, without a sense of ownership, and never give a thought to how they might be improved.....

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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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