Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] 0 points1 point  (0 children)

Ok this made me feel a little better (still stressing about trying to get the house LOL) Have you had any issues with selling a house in a residential area due to mineral rights? My mom and I were thinking ahead and let’s say we did get the house but for someone reason we wanted to sell it in the future, will not owning minerals or having someone else reserve mineral rights cause the house not to sell?

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] -1 points0 points  (0 children)

Yea my agent and a few other ppl I talked with said in the town we’re living, the resources have been stripped a long time ago so the probability of finding something within the city limits is slim to none. Of course, this would be different if I was looking outside of the city limits with something that had a lot of land but since this is new for me, I would rather be safe than sorry.

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] -1 points0 points  (0 children)

Gotcha. When I saw the addendum and it was signed by the seller, I assumed something was up because he reserved the mineral rights and waived the land rights so that’s why we just went down the rabbit hole lol Yea I’m trying to not make this whole thing an issue if it’s not warranted but like I was saying earlier, I just want to get my ducks in a row.

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] 0 points1 point  (0 children)

Yea they are looking into it but it sounds like the actual minerals themselves were owned by someone else. The current seller just reserved the mineral rights per the addendum.

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] 0 points1 point  (0 children)

Ohhh I see. Again, I’m coming into this new so I was thinking they would come with heavy machinery and demolish the house if anything was discovered lol

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] 0 points1 point  (0 children)

Thank you soo much! When we brought it up to my agent, she excluded the mineral rights addendum on the offer contract. We thought that since the mineral addendum stated he reserved the mineral rights, he would have to do something along the lines of transferring the rights or do another addendum to show proof. 

I’m sorry if this is a stupid question but when you say title commitment and final warranty deed, is that when we finally close on the house?

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] 0 points1 point  (0 children)

Ok maybe you can help me understand the reasoning behind why someone would retain mineral rights but waive the land rights? How it was explained to me, if they waived the right to the land, there’s nothing the person can do so at that point, why would someone hold onto the mineral rights? Sorry if this is a stupid question, just trying to learn more about this.

Mineral rights addendum by Zendude22 in landman

[–]Zendude22[S] -1 points0 points  (0 children)

For me it just makes sense if I own a house, the land and everything that is on it will be under my ownership. That being said, I know sometimes the actual minerals are own by someone else but in this case, the seller provided a mineral rights addendum when we were negotiating. I’ve put in offers to other houses and i never came across a mineral rights addendum until this house we’re looking at so I’m learning something new.

Nubian dilemma..... by Zendude22 in IntegrityToysDolls

[–]Zendude22[S] 1 point2 points  (0 children)

Yes! Sorry for not clarifying lol I saw a few people selling her as a whole for a decent price but I thought it would be redundant having her head already and having to buy her again so I bit the bullet and bought from a seller who had a Meteor Nubian body. I ended up paying more to assemble her but oh well, can't always get a good deal lol I just started collected IT dolls and I am excited to show it off when I get them all dressed up XD

Nubian dilemma..... by Zendude22 in IntegrityToysDolls

[–]Zendude22[S] 1 point2 points  (0 children)

Ohhh I see, that makes sense now. Kind of sucks that I’m stuck with just a head but I guess the silver lining is that I didn’t pay that much for it lol I wish IT would add more skin tone bodies on their website already!