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mineral rights are its own part of law there is nothing state wide to my knowledge but i would expect common practice a subdivision the builder or hoa to have minreal rights
You should know whether or not you will receive the oil, gas, and mineral rights prior to writing an offer.
This is a mandatory disclosure from sellers, with few exceptions: https://www.ncrec.gov/Forms/Consumer/rec425.pdf
After contract, status of ownership of those resources should be checked as part of the title work by your closing attorney.
Ownership of oil, gas, mineral, timber, or other harvestable resources separate from owning the surface rights of the land is common throughout the U.S.
Its not as clear cut, of course, as simply "someone can "frack from afar directly under under home for resources".
Current law states that fracking can only occur on a site of at least 640 acres, or one square mile. The owners of at least 90% of that 640 acres (by area) must voluntarily lease their land for fracking, and if the do, the other 10% can be forced to allow it.
So, in addition to the very small chance you'd ever be affected by that, the state entity that oversees fracking permits has been ruled unconstitutional. Plus, the amount of gas in NC is so small as to not even be close to economically viable.
This is such a remote possibility wouldn't worry about it.
DR Horton made the news big time, and not in a good way, when they were forced to return M.O.G. rights to over 1,000 NC home buyers after closing.
It is not unreasonable to conclude that they were attempting to assemble a pool and that owners could have had the shale under their homes fracked.
That prompted the NC General Assembly to create and mandate the disclosure in the link in my post above.
That article was eye-opening. I live near Legend Oaks in Chapel Hill (Chatham County) which was mentioned in the article, and I don't recall ever hearing about it in the news. Thanks for sharing it.
I admit I'm ignorant on this topic (and can't imagine that I'll ever think of it again after this thread).
But what the OP is worried about is true in at least 14 other states? Aren't there more to come?
Is this really a reason to not move to North Carolina?
Disclosure absolutely SHOULD be legally required. And before you hit the closing table. It seems to me that NC would be even more attractive to a potential buyer because they HAVE already enacted that requirement (haven't they?))
What am I missing here (beyond the obvious shady dealings of some developers.)?
Last edited by Jkgourmet; 07-15-2018 at 07:56 AM..
I admit I'm ignorant on this topic (and can't imagine that I'll ever think of it again after this thread).
But isn't what UP is worried about true in many other states, too? And aren't there more to come?
I'd this really a reason to not move to North Carolina?
Well, the OP had better be careful anywhere in coal country, or buying land with trees on it, or stone under it. In any state.
The lateral drilling and fracking and legalities of forced pooling of gas and oil reserves do create and interesting issue, but it is much more prevalent in gas and oil country. Texas. Oklahoma. And, Pennsylvania with the rich Marcellus Shale reserves that have been fracked for several years.
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