Home Buying in River Trails>Question Details

jude2, Home Buyer in Fort Worth, TX

This owner wants to retain mineral rights. HowThey also want ingress regress rights meaning they own the surface ground;

Asked by jude2, Fort Worth, TX Sat May 18, 2013

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This question was asked from this property: http://www.trulia.com/property/3114471746-8640-Brushy-Creek-…

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Jude,

Without seeing the offer, it sounds like the seller didn't wave their surface rights on the Mineral Rights Addendum. What that means is, not only does the seller retain the minerals, but they also could allow a well or any other equipment the gas company might want to put on your property.

Good Luck,
John Reaves
Keller Williams Realty
817-789-5542 (cell)
http://www.cowtownhomesales.com
0 votes Thank Flag Link Sat May 18, 2013
Hi Jude,

I'm in Orlando, FL but ANY licensed real estate agent knows NOT to give legal advice and practice law without a license to practice law. I don't care how much a realtor thinks they know, they libel themselves when they give legal advice. Be very cautious with what answers here you take to heart...call a good real estate attorney in your immediate area, at least within your state.

The only part of a contract a realtor can interpret to you is the blanks they fill in...period. If you want your contract reviewed by an attorney prior to signing, choose the option to do so. A contingency 3-day review period clause is typical. Be sure the contract states that you can cancel without penalty during that time period in the event the attorney's review prompts you to no longer want to purchase the property.

Best wishes with your attorney's advice! :)
0 votes Thank Flag Link Mon Jul 8, 2013
You need to consult with an attorney who handles residential real estate matters with a good knowledge of mineral rights, particularly retaining mineral rights and potential damage to the real property. You should also consult a CPA to determine the value of the mineral rights the seller wants to retain.
0 votes Thank Flag Link Sun May 19, 2013
Hey, Jude...


The answer is plain and simple.

You need a Realtor to represent you. Engage one who has some experience in this area. You're not going to get the solution to your problem on this website.

33 years of selling Tarrant County, ...one house at a time...

Contaact me directly: RickDeVoss@Realtor.com

Rick DeVoss

ULTRA Real Estate Services

817-300-6121

...or go to WholeLife@Yahoo.com
==========================

The last person who tried to pull that trick on one of my clients lost the battle. I'll tell you how to do it.
0 votes Thank Flag Link Sat May 18, 2013
Then legally the new owners would not have legal right to walk to the front door.
0 votes Thank Flag Link Sat May 18, 2013
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