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Reload this Page Monthly Check from Minerals (Howe: mineral rights, leases, how much)
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Old 02-21-2009, 09:06 PM
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Default Monthly Check from Minerals
Greetings,

My wife and I are in the process of buying a house. However the seller does not want to give up the mineral rights to the house.

So we are wondering about how much money a month do you think the checks would be? Is it wise to not get the mineral rights? Can the city do any crazy things like drill a hole in our yard and we can't do anything about it because we don't have the rights?


Thx in advance
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Old 02-21-2009, 09:08 PM
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Zero. Many properties have signed gas leases, but very, very few ever actually had drilling started.

Most homes do not convey the mineral rights these days. Sellers are hanging on to them, and developers often don't convey them on a new house.

Regulations prohibit drilling rigs from operating within several hundred feet of any structures, so no one is going to come drill in your yard.
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Old 02-22-2009, 08:16 AM
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I can't believe a seller is arguing over mineral rights in this slough of home sales...

read some of the other posts--the city would not be drilling in your yard anyway--
the oil/gas company that holds the lease and any company it contracts with for the actually drilling would have to drill a set distance away from residential/business construction
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