[AT] Snow, also mineral rights

[charliehill]

Yes Herb,  I'm pretty sure he knew but he sure didn't want to talk about it 
and sure didn't give anyone time to follow up on my question before he moved 
right along.
In fact I think none of the brokers in the room wanted to hear the answer 
either.

What I wanted to know when I asked the question was this:  when and if the 
mineral owner comes to claim his minerals, does he have to pay the real 
property owner (owner of the improvements) for those improvements he is 
going to destroy or devalue?  Around here oil or gas is not the issue.  It 
is hard minerals in the form of stone and/or phosphate that has to be mined 
leaving a big lake when it's done.  I never have been able to get a 
definative answer to the question.  I suspect the banks and Freddie 
Mac/Fannie Mae are ignoring the question also.

I sure wish I could find a cheap piece of dirt somewhere with an old gas 
well that is not productive but leaks out enough to heat a house and maybe 
run a tractor.  The investment in a compressor to pull the gas out and 
bottle it would be cheap in the long run.

Charlie


----- Original Message ----- 
From: "Herbert Metz" <metz-h.b at mindspring.com>
To: "Antique tractor email discussion group" <at at lists.antique-tractor.com>
Sent: Wednesday, February 17, 2010 9:08 AM
Subject: Re: [AT] Snow, also mineral rights


>
> Charlie, your second paragraph.  Big shot real estate attorney; he knew.
> We have an old  friend back in KS who inherited some mineral rights out in
> SW KS; every year he receives one or two offers from various firm(s)
> wanting to buy his mineral rights.  His opinion is they are wanting to
> recover their investment in six to eight years.  Also, approx fifteen 
> years
> ago when Barbara and I toured the 90 year old oil field near Flat Rock, 
> Ill
> (hour south of Terre Haute) to observe the old single cylinder oilfield
> engine that was powering the Power (short for Power Plant) that was 
> pumping
> seven or eight wells with this one unit.  Our guide, close friend of the
> Power owner, told us that most recipients of the oil field monthly checks
> were back east somewhere.  With todays mobile society and several
> generations later, this is not surprising.
> Cecil, how about a photo of your Cat 112F road grader some time.
> I can understand your anxiously anticipating some operating time with that
> unit.  Hopefully it has a cab with heater.
> Herb
>
>
>> [Original Message]
>> From: charliehill <charliehill at embarqmail.com>
>> To: Antique tractor email discussion group <at at lists.antique-tractor.com>
>> Date: 2/17/2010 7:46:44 AM
>> Subject: Re: [AT] Snow
>>
>> I've always wondered what happens when the owner of the mineral rights
> comes
>> to get his minerals from under your house?  A big paper company here
> always
>> excluded mineral rights when they sell to developments but other than
> that
>> most folks here own their minerals rights.
>>
>> I was in a continuing ed meeting a few years back where a big shot real
>> estate attorney was speaking to about 200 real estate brokers and
>> appraisers.  I asked him about the excercise of mineral rights in a Q and
> A
>> session.  His eyes got as big as silver dollars and he dodged the
> question.
>> I don't know if he'd never thought of it before, didn't know the answer
> or
>> didn't want to tell us what he does know.
>>
>> Charlie
>>
>> ----- Original Message ----- 
>> From: "Larry Goss" <rlgoss at insightbb.com>
>> To: "Antique tractor email discussion group"
> <at at lists.antique-tractor.com>
>> Sent: Tuesday, February 16, 2010 9:08 PM
>> Subject: Re: [AT] Snow
>>
>>
>> You bring up an
>> interesting point, Bob -- mineral rights. In the last 46 years of land
>> ownership, I have never owned any property that included the mineral
>> rights. It has always been reserved by coal, gas, oil, or other mining
>> companies, and was often sold or leased decades prior to when I
>> purchased the property. I grew up on a farm where we owned the mineral
>> rights. I thought everyone lived that way. How naive I was.
>>
>> Larry
>>
>> ----- Original Message -----
>> From: Bob McNitt <nysports at frontiernet.net>
>> Date: Tuesday, February 16, 2010 19:20
>> Subject: Re: [AT] Snow
>> To: Antique tractor email discussion group <at at lists.antique-tractor.com>
>>
>> > Farmer -
>> >
>> > In many areas laying over the massive shale formations
>> > containing
>> > natural gas, the price of once good agricultural land is
>> > skyrocketing as
>> > buyers with deep pockets hope to get in on the royalties of
>> > having gas
>> > wells or pipelines on the land. Of course this also raises
>> > assessed
>> > values and land and school taxes. Common folks seeking to buy a
>> > piece of
>> > rural land to farm on, retire on or maybe just escape the cities
>> > are
>> > being left in the dust of the natural gas drilling craze.
>> > Farmers in the
>> > prime shale areas are being increasingly tempted to sell to
>> > speculators
>> > that are willing to pay top dollar for larger acreages they can
>> > then
>> > lease as well clause in an agreement that allows them to sell
>> > portions
>> > off for cluster development projects. I'm afraid if this keeps
>> > up, we'll
>> > soon be importing almost all of our food stuffs and the only
>> > places
>> > you'll see farm tractors and equipment will be in museums.
>> >
>> > Bob
>>
>
>
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