common sense is out the window
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Nyboy
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Here in Westchester land is sold by the foot. Then taxed a arm and a leg.
Nyboy
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While the 2nd house is right on the street it does have that cute Juliet balcony.
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majorcatfish
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dw and i like the 2nd one, but alas going to keep looking for property in the general area ny/pa.
did find a nice 20 acre lot for 25k ,but the rights do not come with the land <oil,gas,minerals,timber> nothing like putting down roots and having a fracking outfit set up next to the house....pass
did find a nice 20 acre lot for 25k ,but the rights do not come with the land <oil,gas,minerals,timber> nothing like putting down roots and having a fracking outfit set up next to the house....pass
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majorcatfish
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that whole region was once a major oil producer. many abandoned wells were not capped correctly.. before we would even think about buying property we would have the water tested if theres a well on there. if not would have to dig though old records.....
Nyboy
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What are mineral rights ?
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majorcatfish
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you buy a house with 100 acres, but the old owner sold the mineral rights to a company that drills for oil, they have the right to set up a rig on your property any time they want and you can not really stop them, plus you do not get any royalties
have been googling "mineral rights"
it has been very interesting eye opening reading something every prospective home/land buyer should ask and research before signing any papers...
https://en.wikipedia.org/wiki/Mineral_rights
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Chickie'sMomaInNH
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wow, i have been lurking a past couple months but haven't signed in all that time.
Major, didn't know you were planning a move to become a Nawthernah! glad i don't have to worry about mineral rights here in NH. don't think you have to worry about that in most of New England area. (no, NY is not officially part of New England, but always seems to be on the map when i see them talking about weather.) probably because it would cost too much to dig through the bedrock & granite to get to what you want other than water.
@Nyboy most states that have the Bureau of Land Management's mitts on property will have mineral right laws. check ebay sometimes for 'lode claim', 'mining land', 'placer claim'. you will find a lot of land like this in western/southwestern states for mining, but there are a few in NY/PA area. places like Wyoming, Montana, Dakotas tend to have more oil fracking/drilling done on land that will also be used for raising cattle or farming. i found this a few years ago when i got interested in looking at land for sale in other states. didn't buy anything then but have occasionally been looking.
Major, didn't know you were planning a move to become a Nawthernah! glad i don't have to worry about mineral rights here in NH. don't think you have to worry about that in most of New England area. (no, NY is not officially part of New England, but always seems to be on the map when i see them talking about weather.) probably because it would cost too much to dig through the bedrock & granite to get to what you want other than water.
@Nyboy most states that have the Bureau of Land Management's mitts on property will have mineral right laws. check ebay sometimes for 'lode claim', 'mining land', 'placer claim'. you will find a lot of land like this in western/southwestern states for mining, but there are a few in NY/PA area. places like Wyoming, Montana, Dakotas tend to have more oil fracking/drilling done on land that will also be used for raising cattle or farming. i found this a few years ago when i got interested in looking at land for sale in other states. didn't buy anything then but have occasionally been looking.
baymule
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In Texas, a LOT of the land is separate from the mineral rights. In the early to mid 1900's speculators offered money for mineral rights and people sold off their minerals. Farmers for the most part, back then, were poor (and some of them were uneducated and ignorant) and a check for something ambiguous, unseen, and un-used was a wonderful thing. Now, not only are there mineral rights, but wind rights too! I have seen land for sale with the wind rights reserved. The LAST thing i would want camped out on my property would be a bunch of wind turbines!
I had a friend whose father and grandfather were both doctors. His grand father rode his horse to make house calls. People were so poor (this was in the 1920's - 1950's) that they did not have money to pay him with and he told them to will their mineral rights to him, which many of them did. My friend and his brother developed those mineral rights, drilling for oil and became wealthy. He now has oil wells all over east Texas and when cell phones came along, he started putting up cell towers. $$$$$$$
I had a friend whose father and grandfather were both doctors. His grand father rode his horse to make house calls. People were so poor (this was in the 1920's - 1950's) that they did not have money to pay him with and he told them to will their mineral rights to him, which many of them did. My friend and his brother developed those mineral rights, drilling for oil and became wealthy. He now has oil wells all over east Texas and when cell phones came along, he started putting up cell towers. $$$$$$$
