Buying land with out mineral rights

[Bigfoot 327]

Some banks will not grant a house mortgage unless the mineral rights are included. When we sold our NY property in early 2019 we ran into this. My property had various gas leases dating back to 1975. The buyers attorney was totally anal regarding this and wanted signed affidavits on each leases attesting to the fact that each leases was over. Three different gas companies had drilled 5 different gas wells on the neighbor's over a ten year period (down the same shaft). Last well was 8,000 feet deep and extended laterally 3,000 feet. That one hit gas in the Trenton Black River formation. Well logs also show 90 feet of Marcellus Shale and 680 feet of Utica Shale at that location. Because NYS changed the rules the well was never brought into production and the gas company took a bath ripping out the well and restoring the site. I should be collecting gas royalties, but Albany would not let me.................

[Geno C]

16 hours ago, rob-c said:

Yes looking in Steuben and possibly Chemung . 

Sounds good, If you ever need any additional info on properties in chemung or Steuben, let me know. Sometimes its hard to find them on maps and see how they layout due to lack of information in the listing. I can help if you find some good ones.  Im in Chemung but sell all over. Ive walked Close to 300 properties in chemung,Steuben,Schuyler over the years, I can help you when youre ready if you would like.

[rob-c]

3 minutes ago, Geno C said:

Sounds good, If you ever need any additional info on properties in chemung or Steuben, let me know. Sometimes its hard to find them on maps and see how they layout due to lack of information in the listing. I can help if you find some good ones.  Im in Chemung but sell all over. Ive walked Close to 300 properties in chemung,Steuben,Schuyler over the years, I can help you when youre ready if you would like.

I will certainly take you up on that offer . 

[suburbanfarmer]

13 minutes ago, rob-c said:

I will certainly take you up on that offer . 

I got the survey map and just the shape is enough for me to back out. See if you are still interested

 

 

[rob-c]

Just now, suburbanfarmer said:

I got the survey map and just the shape is enough for me to back out. See if you are still interested

 

 

That is a odd piece of land.. thanks 

[Geno C]

heres a a map they a little more clear... a little steeper access, had a camper and shed on it. not sure the condition tho.