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Asked in mortgages forum, but no responses. Hoping folks here can help?
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So, how do you know everything looks ok on the preliminary title report? The lender is getting the report -- is it usually enough if they're satisfied? Fwiw, our realtor thought it looked normal too.
The unusual (to me) parts of the report include:
-The Legal Description excludes an "undivided 1/2 interest of all minerals, oil, gas," etc as reserved by a 1946 deed.
-Legal Description also says the "Surface and Subsurface Rights to a depth of 500 feet below the surface" were quitclaimed in 1968.
So it sounds like we just won't own all that gold and oil hidden deep under our home (this is a small college town amidst agricultural lands). Is this language so unusual? Thanks!
Yeah, it seems like it's held over from another era, and from what I understand that whole side of town has the same issue so apparently no one else is concerned.
The second part -- surface and subsurface rights to 500 ft-- that's a different item and I just don't understand that. I thought surface rights were what I was using to live on the land -- house, garden, etc? Ugh, this is confusing.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I'd look at the 1946 deed and the 1968 quitclaim deed. I'm not sure what county you are in (Butte perhaps), but almost all N California counties would make mining a real problematic process. All the hard rock mines in this county are full of water and dewatering them to mine further is so costly, that even with the price of gold today, it's no where near worthwhile to attempt.
We sold a ranch recently that had a reservation in the deed such as yours to "the gold channel along cooper creek" This was deeded to someone in 1879 and there is no record of it having been transfered to someone else, so it's ownership vests to the heirs of the 2 men it was deeded to in 1879. Our attorney advised us that we could sue for quiet title by publication and we would probably have no claimants, but since no one had made a claim in 130 years, it probably wasn't worth the time and money to do so. Their only claim would be to the gold in the channel anyway, and as we like to say, the easy stuff has already been found.
Your title officer should be able to explain the effects of the deed(s) to you.
Thanks, DMenscha! Glad to hear it's not so unusual and that, as I imagined, it would be pretty hard for them to just start digging under our houses.
I just don't understand the second 1968 quitclaim deed for "surface and subsurface rights?" That was the year before our house and the subdivision were built (this was all farmland before). We're in Yolo County.
I'll check w/ the title company. Duh, hadn't thought of that.
My cousin has something like this in her deed. Basically what it comes down to, as she has discovered, is that if at some time in the future someone wants to conduct strip mining (in her case) they have to pay her for the home and all improvements in order to conduct the mining. Unfortunately, the coal stripping is moving her way and she will be moving soon, she has already been notified and prices have been set. Fortunately they are actually giving above market for her home plus a pretty good moving bonus...the same for her neighbors. BTW, she gets the property back after it is restored but that may take a several years. Don't know if it works the same in your state.
Wow, it sounds like it's common to have that type of deed in her area? Sorry she has to move from her home, but that's great she's getting more $$. Hopefully she'll find a better home in this soft housing market.
I spoke w/ our realtor, who got hold of his office's in-house attorney. The attorney explained that everyone in that part of town has the same reservation in their deeds but that it doesn't matter since a later enacted county ordinance prhobits any type of drilling, mining etc within 500 ft of any residence. He said it would matter if you bought huge acreage, but our neighborhoods are suburban with less than 1/4 acre lots. He said we can get something from the title company attesting to that which we're getting next. So it sounds like what DMenscha was saying -- the county won't let them drill around our houses. Phew.
Thanks everyone for the feedback -- I can sleep better now.
Can we trade you your board of supervisors for ours?
LOL, we're not that far away. Just move to Davis and we can share.
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