why that was nice

[Flipx99 5,000+ posts]

thats in Tennessee? so if you struck oil in your back yard (theoretically) you would still own it, just be taxed like normal?

All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:

(1) By map and parcel number of the surface owners above the mineral estate;

(2) By providing to the property assessor reliable and accurate maps showing the location of the mineral interest in relation to the surface estates, which maps shall be kept on file in the property assessor's office. The property assessor shall use those maps to identify the surface owners above the mineral interest; or

(3) By providing the names of the surface owners and enough additional information so that the property assessor can identify on the property assessor's maps the location of the mineral interest. The property assessor shall keep the names and information on file and shall use the information to identify on the property assessor's maps the location of the mineral interest in relation to the surface estate.

© The state board of equalization shall furnish to local property assessors a form for mineral owners to use.

So you are a hillbilly?//content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif//content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif

'
Perhaps....perhaps.

 

[Flipx99 5,000+ posts]

fwiw, my commute is 44 miles to get there.

 

[IgnoreMe 5,000+ posts]

So you are a hillbilly?//content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif//content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif

have you ever been to Tennessee? its is hardly a "hillbilly" state.

 

[BoomBoomBoy 10+ year member]

All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:




(1) By map and parcel number of the surface owners above the mineral estate;

(2) By providing to the property assessor reliable and accurate maps showing the location of the mineral interest in relation to the surface estates, which maps shall be kept on file in the property assessor's office. The property assessor shall use those maps to identify the surface owners above the mineral interest; or

(3) By providing the names of the surface owners and enough additional information so that the property assessor can identify on the property assessor's maps the location of the mineral interest. The property assessor shall keep the names and information on file and shall use the information to identify on the property assessor's maps the location of the mineral interest in relation to the surface estate.

© The state board of equalization shall furnish to local property assessors a form for mineral owners to use.

'

Perhaps....perhaps.

Read that law again. You just proved my point that Tennesee has mineral rights other than the property owners rights.

 

[IgnoreMe 5,000+ posts]

All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:




(1) By map and parcel number of the surface owners above the mineral estate;

(2) By providing to the property assessor reliable and accurate maps showing the location of the mineral interest in relation to the surface estates, which maps shall be kept on file in the property assessor's office. The property assessor shall use those maps to identify the surface owners above the mineral interest; or

(3) By providing the names of the surface owners and enough additional information so that the property assessor can identify on the property assessor's maps the location of the mineral interest. The property assessor shall keep the names and information on file and shall use the information to identify on the property assessor's maps the location of the mineral interest in relation to the surface estate.

© The state board of equalization shall furnish to local property assessors a form for mineral owners to use.

'

Perhaps....perhaps.

i understand most of it, but that "lawyer" style of writing is confusing.

 

[Flipx99 5,000+ posts]

Where? It doesn't say I have to sign anything over to BP, or that I relinquish any rights. It says that I should be taxed appropriately.

 

[Flipx99 5,000+ posts]

i understand most of it, but that "lawyer" style of writing is confusing.

Basically, the state wants to know where the minerals are so they can tax you on it.

 

[IgnoreMe 5,000+ posts]

If it came to that, I'd get an electric golf cart and use that as my transportation to work. I only live about 5 minutes from work via automobile. I already get 10MPG so I would definitely feel the cost immediately.

well assuming you drive at 60mph, you're using a gallon of gas minimum just to drive to work and back //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif. thats pretty shitty lol

 

[WhoSayWho? 5,000+ posts]

Where? It doesn't say I have to sign anything over to BP, or that I relinquish any rights. It says that I should be taxed appropriately.

What is the question?

 

[BoomBoomBoy 10+ year member]

Where? It doesn't say I have to sign anything over to BP, or that I relinquish any rights. It says that I should be taxed appropriately.

Originally Posted by Flipx99

All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:

Right there.//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[IgnoreMe 5,000+ posts]

Originally Posted by Flipx99 All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:

Right there.//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

to me it looks like it says that the city will send someone to assess that "mineral", and so long as its sufficiently identified, you just get taxed on it.

FYI, i am no lawyer, im just a commoner trying to understand this legal mumbo jumbo

 

[WhoSayWho? 5,000+ posts]

One of my houses was in OC, CA and the other outside of Denver. Both required it. Good Luck Jed Clampett:laugh:

Eh, it is not required. Probably what you are thinking about is that the mineral rights have been reserved by someone prior in the chain. If they have not been reserved or otherwise conveyed then they will be sold along with the rest of the rights of the land. It is all a matter of private negotiation.

 

[Flipx99 5,000+ posts]

What is the question?

In the law I posted, BoomBoy seems to believe this means I am relinquishing my rights to oil companies. I think it means I am indicating assets I have in the form of mineral rights so I may be appropriately taxed.

 

[BoomBoomBoy 10+ year member]

to me it looks like it says that the city will send someone to assess that "mineral", and so long as its sufficiently identified, you just get taxed on it.
FYI, i am no lawyer, im just a commoner trying to understand this legal mumbo jumbo

Basically what it says is, you don't have to be the property owner, to own the mineral rights of a piece of property, as long as you, register with the county assesors office and keep up the mineral taxes on the property.

Then it lists that you have to do it in one of three ways.

Since there is no active mining going on, on most properties, I'm sure the taxes are next to mothing, that is unless you strike a mineral deposit, and then the taxes would go through the roof, since the property just became a lot more valuable.