Replies to This Discussion

Permalink Reply by DESOTO EXCIT on July 19, 2008 at 12:16

Yea! I have heard of that--my mother and her two siblings were done
that way when they sold to the 4th sibling- one did not ever know
there was a lease by their parents--but anyway--can't do anything about
it now--the bad thing- my mom has owned her land since early 50's
a lease has been going on since 1941- she has never drawn the the
first dime--but she is fixing to- i bought 4 yrs ago- and no rights
retained-- so its coming back home!

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Permalink Reply by cc walker on July 19, 2008 at 10:20

quit being victims,people buy houses or land,never think about minerals until
something like this hv play shows up,how they say everybody screwed them.after
you turn 18 yrs.old it is not everyones elses fault.if you are to stupid,lazy,or timid,
the people who had the minerals were not.everyone else is not here to look after
you.how about being a grownup and saying i messed that time,but will not next
time.

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Permalink Reply by insomniacnla on July 19, 2008 at 10:32

I think that the problem the homeowners have is that the real estate agent/broker informed the buyers that the minerals were included in their purchase. So the homeowners saw that the minerals were not reserved by the seller in the Deeds and believed that they purchased the minerals also.

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Permalink Reply by M. Mcwilliams on July 19, 2008 at 12:52

I read the lawsuit, not real closely, but I don't think they were told that they had the minerals. They weren't specifically told that the minerals had been reserved, either, though. Part of the lawsuit is based on a claim of fraud, which I find hard to follow. How can someone be defrauded about an aspect of the sale that no one cared about at the time? Fact is, in 2006, 2007 and even the first half of 2008, no one buying a lot in a subdivision dreamed that there was any reason to have the mineral rights. I wonder what kind of damages the homeowners would recover. What was the value of the mineral rights in 2006? Would the homeowners have paid more for the lot back then if they knew they were getting mineral rights? There's probably a good reason that title companies exclude mineral rights from their opinions and it's because until 2008, no one could do much of anything with mineral rights in a subdivision, or cared much about it.

So now, the value of subdivision lots will skyrocket because everyone will want to make sure to retain mineral rights?

If someone wants to make sure they have mineral rights, have the title company check specifically for that. You might have to pay more for it, though, and you might have to have a more detailed title examination performed.

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Permalink Reply by Snake Stewart on July 19, 2008 at 13:12

You bring up several interesting points. The only one that I feel will never be an issue again is whether or not you will be able to purchase mineral rights in this part of the country. I would be surprised if you even had that option after this H/S thing.I know I wouldn't sell . Alot of the subdivisions in the future will already held by production.If the developers are smart anyway.But then again , who would want to build a home beside a compressor station ?
Nice set of thoughts Mr. Mcwilliams

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Permalink Reply by Bobi Carr ("parker") on July 19, 2008 at 15:38

I agree completely.

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Permalink Reply by Bobi Carr ("parker") on July 19, 2008 at 15:45

If the agents told them the minerals go with the property, they have an action against the agents not against the Browns.

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Permalink Reply by sesport on July 19, 2008 at 15:55

Wouldn't it be one in the same? Brown properties are sold by Brown Real Estate, Brown agents.

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Permalink Reply by Snake Stewart on July 19, 2008 at 15:56

May kill two birds with one stone ?

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Permalink Reply by Bobi Carr ("parker") on July 20, 2008 at 16:37

If the Real Estate Agents told them not the parties at Brown.

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Permalink Reply by Carver on July 20, 2008 at 10:17

Does anyone know how to find the lawsuit and read it?

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Permalink Reply by insomniacnla on July 19, 2008 at 10:45

Dear CC Walker,

It seems that you have confused this website with another one, that LSU site. This website is for people that wish to find out and/or share information and help one another. If you wish to insult people, you should be right at home at that OTHER site.

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