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Old 05-23-2012, 03:54 PM
 
3 posts, read 9,449 times
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I just inherited a lot in the SLVR in Blanca and have no immediate plans to relocate for at least 15 more years. This lot has been in my family for 40 years,(not a sound investment on my grandfathers part), and I am well aware of the many issues involving water drilling and other utilities. My question is concerning mineral rights on the property. Are there any companies that are looking for minerals of any sort in the area. I know the area is very undeveloped and wouldn't mind making some money off it should I decide to hold onto this property. Any suggestions.
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Old 05-25-2012, 10:53 AM
 
Location: N. Colorado
345 posts, read 758,179 times
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Well I am not sure if anyone had any interest in buying and selling mineral rights down there like they do up here.

Now if your lot was up here, there is a 99% chance the mineral rights were sold long ago and the person who has it will not sell it to you.
If they were to sell it it would probably cost more then your land did if there is oil on it.

Most of us up here do not have water or mineral rights. My neighbor owns 80 acres and they have 5 wells on his place and he owns and gets nothing from it. Now if they work on it he gets some money for the noise and inconvience that is all.

It should be on your deed telling you who owns what, if not the title company should be able to look it up and tell you.
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Old 05-28-2012, 04:00 PM
 
Location: Betwixt and Between
463 posts, read 942,657 times
Reputation: 420
In Colorado, mineral rights do not automatically convey when you buy/sell a piece of property. So, although you own the land, you don't necessarily own the minerals on it. A Canadian firm recently started drilling natural gas wells but they were shut down pending further environmental impact studies. More info here:
Gas drilling on hold in San Luis Valley’s Baca refuge Summit County Citizens Voice
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Old 05-28-2012, 04:03 PM
 
Location: OKLAHOMA
1,778 posts, read 3,479,129 times
Reputation: 927
I think you would know if you have them. Mineral rights are more costly than the land itself. If you have them there you can sell them or lease them out. Generally, oil companies contact all mineral right owners offering them money. They even send checks that all you have to do is sign on the dotted line and they got the rights. Hang on to them if you have them.
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Old 05-29-2012, 11:44 AM
 
3 posts, read 9,449 times
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The SLVR lot was purchased in 1972 by my grandfather. I believe the land sales in that area first started in 1969, and were done in phases. I have been reading several different forum posts, and it appears that my deed should indicate whether I have the mineral rights or not. Where do I find this on the deed?
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Old 05-29-2012, 05:17 PM
 
Location: OKLAHOMA
1,778 posts, read 3,479,129 times
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Quote:
Originally Posted by rgmac View Post
The SLVR lot was purchased in 1972 by my grandfather. I believe the land sales in that area first started in 1969, and were done in phases. I have been reading several different forum posts, and it appears that my deed should indicate whether I have the mineral rights or not. Where do I find this on the deed?

Good question. My deed to my ranch here says if I do or don't have mineral rights. I can't believe it isn't on the deed. Interesting.
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Old 05-30-2012, 05:53 PM
 
Location: High in the Rocky Mountains
29 posts, read 108,373 times
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The SLVR (San Luis Valley Ranches) is a SUBDIVISION made up of 1000's of acres, most of them being 5 acre tracts.

Mineral rights to the SLVR were transferred back in the late 60's - early 70's when the land was being subdivided up. Forbes and a couple of other huge developers bought MILLIONS of acres looking for gold, silver and other minerals and when they didn't find much, deeming the land "worthless" for their purposes, they were smart enough to carve it up, create subdivisions and sell the parcels.

So, no, you do not have mineral rights in the SLVR. And pretty much all the other "subdivisions" are the same.

I'm in the real estate title business and happen to live in the SLVR. The deed you have in hand would have conveyed mineral rights if you had them. If you did a title search of your property, you'd probably locate the original deed(s) where the mineral rights were split off or held by back by a seller.

As to water, the SLVR gives you the right to drill on your property for PERSONAL use only. But there is no guarentee you will find water at any certain depth. We hit water at 45 feet and dropped our well at 75. People 3 miles from us had to go to 145 feet - so it depends on the location, how much river rock and lava you have on your property, etc.

Just had a Realtor out our way list a 5 acre parcel for $3500.00 - so, if you want to "make money" on your lot, it would need to have at least a well dug and ideally a septic stubbed in. Then you could sell it with the improvements for a higher price. But again, LOCATION out here is everything.

If you really want to make money on it, List it for $6000 with owner financing at 5% - at least you'll earn more than you would putting the "investment" into a bank. Last I checked, CDs were running about 1%.
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Old 05-01-2013, 12:48 PM
 
7 posts, read 27,652 times
Reputation: 15
Quote:
Originally Posted by debbie at bouontiful View Post
Good question. My deed to my ranch here says if I do or don't have mineral rights. I can't believe it isn't on the deed. Interesting.
My deed doesn't state either. Good question. I think the county clerk should have more info.
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Old 05-01-2013, 03:18 PM
 
Location: CO
2,533 posts, read 5,817,246 times
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There was an article in the Longmont Weekly last summer that describes researching the ownership of mineral rights on Colorado property:

Verifying mineral rights is not easy

Quote:
LONGMONT -- It sounds like a simple question: Do I own the oil and gas under my home?

Brace yourself. Simple it's not.

"It's a chase," admitted Alex Mestas, an engineering and surveying tech supervisor for Longmont's public works department. "It's a chase. What rabbit hole do I want to go down today?"

. . . it may not be immediately clear who does own those minerals. It's even become a standing quip at City Council meetings as one resident and activist, Joe Bassman, has routinely introduced himself as "the owner of the surface rights" of his home. Because Colorado allows mineral rights to be spun off (or "severed") and sold separately from the surface rights, that's sometimes all a resident can be sure of.

At least, without a lot of work. . .
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Old 05-01-2013, 06:45 PM
 
8,317 posts, read 25,095,377 times
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You will need to research the chain of title to see if any previous owner reserved all or part of the mineral rights. Also, there are many areas in Colorado where the Federal Government reserved all or part of the mineral rights at patent. The latter you can ascertain by purchasing the BLM surface management maps for the area in which the property is located (link below).

BLM Colorado | Public Room | Map Information

Mineral rights can be just as tricky as water rights in Colorado, and often equally difficult to research.
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