I am currently involved in a gas/lease holdout group in Burleson, Texas. What if i have a form in my closing?

Asked by J. Lee, Burleson, TX Mon Jun 30, 2008

paperwork from buying home that states the money given for leasing my mineral rights says i have to inform my lender. What if i don't inform my lender? The form also states the mineral rights money will go to the loan of my house.

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4
J, , Burleson, TX
Wed Oct 15, 2008
I wouldn't tell your lender nothing about your bonus they have received a big enough bonus in the bail out besides youl need the money to pay the new taxes!
0 votes
Bruce Lynn, Agent, Coppell, TX
Tue Jul 1, 2008
Sorry not enough information here to answer specifically your question. Mineral rights are fairly complicated as to if they move with the buyer, remain with the seller, what happens during foreclosue and if they can be separated from the land. Probably best to check with your realtor, the title company, or your attorney.
Web Reference:  http://www.teamlynn.com
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Jun 30, 2008
Who is your realtor, where is the contract going to the title company might have some additional forms OR a real estate attorney, this is different outsde of the typical purchase. http://www.lynn911.com
0 votes
Bay Jackson, , Shreveport, LA
Mon Jun 30, 2008
You need to speak to a real estate attorney in your area.
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