Advertisements

Advice needed on Mineral rights : RealEstate

Advice needed on Mineral rights : RealEstate


I am about to close on a brand new house and caught this sneaky page in the closing paperwork. It was never discussed prior.

https://postimg.cc/Cngkq0Dx

Apparently my seller/builder/title holder, DR horton, is selling this new house to me but retaining its “mineral rights”. That little blurb seems ridiculous. It doesn’t tell me anything. With the weekend no one is around to answer my calls, but I will be making a lot on Monday. In the meantime I wanted to know if anyone was familiar with something like this. This is not some 1000 acre property either. This is a 2000 sq house with a 1000 sq foot backyard in a small, quiet community.

How common are these documents? Why does it not get into specifics? They can come on my land whenever? For how long? Do they put back whatever they move? How could liability and damages not be mentioned in here? This seems like a bizzare document. I don’t understand how it could only be a paragraph. My lawyer is not familiar with any of this either. Thanks for any help.



Source link

Advertisements

Leave a Comment

Your email address will not be published. Required fields are marked *

*
*