Jump to content

Buying land with out mineral rights


rob-c
 Share

Recommended Posts

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.................

Link to comment
Share on other sites

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.

  • Like 1
Link to comment
Share on other sites

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 . 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...