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trickykittyThe sellers want to retain the mineral rights. I don't blame them, as there's gas drills all over the damn place, including one no more than 1 mile from the property over on the nearby college campus. For all I know it may already have a lease on it and the sellers are already getting royalty checks. According to the Tarrant County Appraisal records, the value of the home jumped up almost $14k the year that drill was built.
I wonder if my lender appraisal will have anything to say about that.
Info links for my own reference:
Mineral Rights in Texas*
History of Mineral Rights in Texas
Horizontal drilling distances
(this last one tells me that the drill on the college campus could quite easily reach to the location of the house I'm trying to purchase, so chances of a royalty check being received are pretty great/probable for the owners of the mineral rights)
Texas Mineral Rights
*LOL - I accidentally first typed that as "Mineral Right sin Texas," which seems to give it an all new meaning.
I wonder if my lender appraisal will have anything to say about that.
Info links for my own reference:
Mineral Rights in Texas*
History of Mineral Rights in Texas
Horizontal drilling distances
(this last one tells me that the drill on the college campus could quite easily reach to the location of the house I'm trying to purchase, so chances of a royalty check being received are pretty great/probable for the owners of the mineral rights)
Texas Mineral Rights
*LOL - I accidentally first typed that as "Mineral Right sin Texas," which seems to give it an all new meaning.
