[Durham INC] [durhamenviro] Re: Homes sold in Durham minus mineral rights -- Fracking to come?
M. W. Shiflett - Hotmail
mwshiflett at hotmail.com
Fri Apr 13 14:37:44 EDT 2012
I am very concerned that what had been used previously for larger pieces of
property (farmland, commercial tracts and industrial uses) is now being
applied to put individual potential homeowners in a position to face unknown
futures under these contractual agreements (especially when so few
homebuyers actually read closing documents, much less understand them).
My concern extends to the ever more ubiquitous number of Homeowners
Association developments where a declarant may have it in the initial
governing documents (CC&R's) that bind buyers in that planned community to
these 'agreements'.
How would you feel if you bought into one of these new developments only to
find that your swimming pool, clubhouse and/or golf course had their mineral
rights under control of someone you might not even know (or an out of state
corporation)?
Mike Shiflett
----- Original Message -----
From: "Will Wilson" <willwilsn at gmail.com>
To: "Melissa Rooney" <mmr121570 at yahoo.com>
Cc: <TheOcean1 at aol.com>; <kjj1bg at yahoo.com>; <inc-list at rtpnet.org>;
<durhamenviro at yahoogroups.com>; "Gary Berman" <gary at garybermanlaw.com>
Sent: Thursday, April 12, 2012 5:23 PM
Subject: [durhamenviro] Re: [Durham INC] Homes sold in Durham minus mineral
rights -- Fracking to come?
> this response from Gary Berman (does real estate law):
>
> Hi, Will. In a state in which the ground contains valuable minerals, it's
> common for sellers to retain the mineral rights when conveying land.
> Occasionally, when deeds for Durham property are prepared in one of those
> states, the deed form contains a pre-printed clause that specifies that
> the
> seller retains the mineral rights.
>
> For example, the building at the southeastern corner of Watts and Green
> used to be a Mormon church. The property was sold to Beth El Synagogue.
> Coming from the Mormon organization, the deed to Beth El was
> (not surprisingly) prepared in Utah, and the deed contains a clause that
> reserves the mineral rights for the seller.
>
> Such clauses have been rare in this part of North Carolina.
>
> But you asked for insight. I don't have much of that. However, I wonder
> how mortgage lenders will react when they find out that the proposed
> collateral for a loan doesn't include mineral rights. And I'm curious
> about how much the reservation of mineral rights will affect the value of
> real estate.
>
>
> On 4/12/2012 4:11 PM, Melissa Rooney wrote:
>> I don't understand much about this mineral rights stuff. Soil and Water
>> Conservation Board member Danielle Adams knows quite a bit more, but I
>> was
>> unable to talk for very long to her. I understand she may be speaking at
>> an
>> upcoming INC meeting...? This would be excellent for many reasons:
>> stormwater
>> problems, fear of fracking, mineral rights (which apparently are being
>> sold for
>> very little -- far less than they should be worth), etc.
>>
>> I just wanted to raise the red flag by passing this information to
>> everyone I know.
>> I can barely keep up with what's going on in my household these days, so
>> I hope
>> that, together, we can all stay informed and prevent catastrophic
>> decisions by
>> our local and state gov'ts...
>>
>> Melissa
>>
>>
>> --------------------------------------------------------------------------------
>> *From:* "TheOcean1 at aol.com"<TheOcean1 at aol.com>
>> *To:* kjj1bg at yahoo.com; mmr121570 at yahoo.com
>> *Cc:* inc-list at rtpnet.org; durhamenviro at yahoogroups.com
>> *Sent:* Thursday, 12 April 2012 1:12 PM
>> *Subject:* Re: [Durham INC] Homes sold in Durham minus mineral rights --
>> Fracking to come?
>>
>> *It's been a good number of years since I took the pre-license Real
>> Estate
>> class, and maybe the curriculum has changed. What I recall is the
>> statement,
>> "from the core of the earth to the highest heavens", or something to that
>> effect.*
>> **
>> *I just re-read the Offer To Purchase contract, and the words "Mineral
>> Rights"
>> aren't mentioned anywhere. I've read a bunch of articles, and watched the
>> youtubes, and in one the fellow says that folks find out about it at the
>> closing
>> table - and just want to close!*
>> **
>> *Since Realtors are surely going to take blame, it would be very nice to
>> know
>> how we can prevent it. I suspect if this were to happen at one of my
>> closings,
>> I'd tear up every piece of paperwork on the table. But even that won't
>> effect
>> the guy a few blocks away who sold his rights to a company capable of
>> drilling
>> sideways.
>>
>> **Bill Anderson*
>> REALTOR
>> (919)***282-8209*cell
>>
>>
>> www.FrankWardRealtors.com<http://www.frankwardrealtors.com/>
>>
>> (919) 688-5811 Office
>> (919) 688-2094 Fax
>> theOcean1 at aol.com
>> In a message dated 4/11/2012 7:45:13 P.M. Eastern Daylight Time,
>> kjj1bg at yahoo.com writes:
>>
>> Melissa,
>> Is this not being disclosed to buyers? Are we now going to have to
>> purchase
>> mineral rights separately from land/home? Could cities or counties
>> prohibit
>> this?
>>
>> Sent from my iPhone. Take typos and autocorrect errors lightly
>> please.
>>
>> On Apr 10, 2012, at 6:30 PM, Melissa Rooney<mmr121570 at yahoo.com
>> <mailto:mmr121570 at yahoo.com>> wrote:
>>
>>> This really worries me, so I wanted to share the info with those
>>> who I
>>> know care about what goes on beyond their personal property lines:
>>>
>>> Currently, houses in Durham are being sold minus the mineral rights
>>> ...
>>> this is scary wrt the possibility of Fracking and who knows what
>>> else.
>>>
>>> See the links below. And please keep your eyes open for any
>>> information
>>> pertaining to Fracking and Mineral Rights in Durham. We will likely
>>> need
>>> to make our elected officials well aware of the hazards for our
>>> county.
>>>
>>> Does a Developer Sale of Mineral Rights to an Energy Company
>>> Foreshadow
>>> Fracking
>>>
>>>
>>> http://www.indyweek.com/indyweek/does-a-developers-sale-of-mineral-rights-to%20-an-energy-company-foreshadow-fracking/Content?oid=2970445
>>>
>>>
>>>
>>> It is also in the Herald Sun:
>>>
>>> Builder sells homes without mineral rights. It was when he was
>>> finalizing the purchase of his new home in Durham last month that
>>> Danny Conyers first heard the words "mineral rights" brought up.
>>> [You
>>> may need to register to view this article.]
>>>
>>>
>>> http://www.heraldsun.com/view/full_story/18181034/article-Builder-sells-home
>>> s-without-mineral-rights
>>>
>>> Here is a link to a video about Fracking in NC (by Durham resident
>>> Tina
>>> Motley Pearson for Clean Water for NC):
>>>
>>> Fracking for Natural Gas in NC... Can it Happen Here?
>>>
>>> http://www.youtube.com/watch?v=hsrVF-DVFz4
>>>
>>>
>>> --Melissa (Rooney)
>>>
>>> _______________________________________________
>>> Durham INC Mailing List
>>> list at durham-inc.org<mailto:list at durham-inc.org>
>>> http://www.durham-inc.org/list.html
>> =
>>
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>>
>>
>>
>>
>>
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>
> --
> http://www.biology.duke.edu/wilson/
> New Book: http://www.constructedclimates.org/
>
>
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