why that was nice

[Flipx99 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

Where does it say I am giving up my property rights????

 

[Flipx99 5,000+ posts]

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.

Duh, that is common sense.

Anyone can sell mineral rights to a property. I guess in CO/CA previous owners sold the proprty rights. In TN, that is a far less common procedure.

 

[WhoSayWho? 5,000+ posts]

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.

Yes, that statute says nothing about who owns the rights, it says how to register them for taxation.

 

[Flipx99 5,000+ posts]

Yes, that statute says nothing about who owns the rights, it says how to register them for taxation.

I couldn't find any law specifically stating that one must automatically give up their property to exxon if they strike oil. I did find several issues regarding mineral rights, acquiring mineral rights, etc.

 

[BoomBoomBoy 10+ year member]

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.

Nope. On my mortgage, the mineral owners of my property were anonomous. If I wanted to find out who they were, I would have to go to the county and do a search.

Again, have you ever bought a house?

Another thing that caused me concern when I bought my properties, were easements. Meaning certain people have access right to my property in perpituity.

I was like WTF? Companies such as electric, gas, cable, etc. I understood, but legally there wasn't anything I could do if they wanted to have a sit down in my frontyard.

 

[Flipx99 5,000+ posts]

66-5-108. Preservation, or extinguishment and reversion of mineral interests. —

(1) “Mineral interest” means the interest which is created by an instrument, transferring either by grant, assignment, or reservation, or otherwise, an interest, of any kind, in coal, oil and gas, and other minerals;

(2) “Statement of claim” means a document or instrument to be filed by the owner of a mineral interest in real property to make claim to that mineral interest; and

(3) “Use of mineral interest” means that a mineral interest shall be deemed to be used when there are any minerals being produced thereunder or when operations are being conducted thereon for injection, withdrawal, storage or disposal of water, gas or other fluid substances, or when rentals or royalties are being paid to the owner thereof for the purposes of delaying or enjoying the use or exercise of such rights, or when any such use is being carried out on any tract with which such mineral interest may be unitized or pooled for production purposes, or when taxes are paid on such mineral interest by the owner of the land.

© Any interest in coal, oil and gas, and other minerals shall, if unused for a period of twenty (20) years, be extinguished, unless a statement of claim is filed in accordance with subsection (d), and the ownership of the mineral interest shall revert to the owner of the surface.

(d) (1) The statement of claim provided in subsection © shall be filed by the owner of the mineral interest prior to the end of the twenty-year period set forth in subsection © or within three (3) years after July 1, 1987, whichever is later.

(2) The statement of claim shall contain the name and address of the owner or owners of such mineral interest. The claim shall cite tax maps and parcel numbers for the owner or owners of surface above the mineral estate, and a reference to the instrument under which the interest is claimed.

(3) The statement of claim shall be filed with the office of the register of deeds in the county in which such land is located.

(4) Upon filing of the statement of claim within the time provided, it shall be prima facie evidence in any legal proceedings that such mineral interest was being used on the date the statement of claim was filed.

(e) (1) Any person who will succeed to the ownership of any mineral interest upon the lapse thereof may commence such lapse by filing, with the clerk and master of the county in which the mineral interest is located, a complaint of claim of abandoned mineral interest which may be in the following or a similar form:

Click to view form.

(2) The complaint shall be verified and filed by the clerk and master upon payment of the fee provided in subdivision (e)(8).

(3) Upon the filing of a complaint of claim of abandoned mineral interest the clerk and master shall give notice that the mineral interest identified in the complaint shall lapse in sixty (60) days by publishing the same once a week for three (3) consecutive weeks in a newspaper of general circulation in the county in which such mineral interest is located, and shall send by certified mail within ten (10) days after such publication a copy of such notice to the owner of such mineral interest identified by the plaintiff in the complaint of claim of abandoned mineral interest.

(4) If, within sixty (60) days after publication provided in subdivision (e)(3), the mineral interest owner does not file with the clerk and master an answer alleging a claim to the mineral interest, the clerk and master shall so certify to the chancellor who shall enter the following order declaring the mineral interest has lapsed and vesting title to the mineral interest in the owner of the surface estate:

Click to view form.

(5) All notices provided for in this section shall state the name of the owner of the mineral interest, if known, as shown of record, a description of the land and the name of the person filing the complaint of claim of abandoned mineral interest.

(6) In any county having a population of not less than thirty-two thousand six hundred (32,600) nor more than thirty-two thousand seven hundred (32,700) according to the 1980 federal census or any subsequent federal census, upon the filing of the statement of claim provided in subsection (d) or the order provided in subdivision (e)(4) in the register of deeds office for the county where such interest is located, the register shall record the same in a book to be kept for that purpose, which shall be known as the “Dormant Mineral Interest Record,” and shall indicate by marginal notation on the instrument creating the original mineral interest and the instrument creating the interest of the current surface owner, the filing of the statement of claim or order.

(7) In order for the judicially determined lapse to be effective as to the subsequent interest holders, a certified copy of the final order evidencing the same must be recorded in the register of deeds office in the county where the property is located.

(8) The clerk and master shall charge a fee of thirty dollars ($30.00) for the filing of the complaint of claim of abandoned mineral interest and the order provided for in this section and shall collect the fees necessary for the publication required in this section.

(9) No complaint for claim of abandoned mineral interest shall be accepted for filing prior to July 1, 1990.

(f) (1) Upon the filing of the statement of claim as provided in subsection ©, the register shall record the same in a book to be kept for that purpose which shall be known as the “Dormant Mineral Interest Record” and shall enter in the index where the instrument creating the original mineral interest is indexed a notation referencing the statement of claim. Upon the filing of the order as provided in subdivision (e)(4), the register shall record the order in the Dormant Mineral Interest Record and shall enter the filing of the order in the indexes referencing the instrument creating the original mineral interest and the instrument creating the interest of the current surface owner.

(2) In any county having a population of not less than thirty-two thousand six hundred (32,600) nor more than thirty-two thousand seven hundred (32,700) according to the 1980 federal census or any subsequent federal census, upon the filing of the statement of claim as provided in subsection © or the proof of service of notice as provided in subsection (e) in the register of deeds office for the county where such interest is located, the register shall record the same in a book to be kept for that purpose, which shall be known as the “Dormant Mineral Interest Record,” and shall indicate by marginal notation on the instrument creating the original mineral interest the filing of the statement of claim or affidavit of publication and service of notice.

(g) The provisions of Acts 1987, chapter 282, may not be waived at any time prior to the expiration of the twenty-year period provided in subsection ©.

(h) This section applies in all ways to property owned by the state of Tennessee.

(i) The provisions of this section may not be waived at any time prior to the expiration of the twenty-year period provided in subsection ©.

(j) No action shall be brought by any person to contest the lapse of a mineral interest pursuant to this section after three (3) years from the date such interest lapsed.

(k) (1) Any person who prevails in an action to quiet title to challenge a statement of claim or a complaint for claim of abandoned mineral interests filed pursuant to this section may be awarded reasonable attorney's fees and costs if the court finds that the statement of claim or the complaint was not filed in good faith. A court may find that a statement of claim or the complaint was not filed in good faith if such was filed without reasonable inquiry, with no factual basis, and for purposes of harassment.

(2) If the court finds no record of taxes paid or statement of claim filed for the lapsed mineral interests which references the mineral estate by tax map and parcel number, then a complaint for claim of abandoned mineral interest shall be deemed to have been filed in good faith.

(l) The only parties of interest pursuant to this section shall be an owner of the mineral interest and a person who shall succeed to the ownership of the mineral interest upon its lapse. Any third person claiming title or interest in any matter pursuant to this section shall prove by verified complaint, affidavit or other evidence that the third person's rights are or will be violated and that such third person will suffer injury, loss or damage if not allowed to become a party thereto.

[Acts 1987, ch. 282, §§ 1, 2, 7, 9, 12; 1988, ch. 636, §§ 15, 16; 1988, ch. 702, §§ 1, 2; 1990, ch. 902, §§ 17, 18.]

 

[Flipx99 5,000+ posts]

Nope. On my mortgage, the mineral owners of my property were anonomous. If I wanted to find out who they were, I would have to go to the county and do a search.
Again, have you ever bought a house?

Another thing that caused me concern when I bought my properties, were easements. Meaning certain people have access right to my property in perpituity.

I was like WTF? Companies such as electric, gas, cable, etc. I understood, but legally there wasn't anything I could do if they wanted to have a sit down in my frontyard.

Those restrictive covenants were property specific. They may be common out west or something, but those things are uncommon in Tennessee.

 

[IgnoreMe 5,000+ posts]

I never top 45. I don't use the freeway at all. But still, Filling up my tank every other week at $1500 a pop would be insane. I'd get a golf cart after it broke $100, because then it would be financially validated.

you have 150 gal tank on the jeep? //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

 

[BoomBoomBoy 10+ year member]

Those restrictive covenants were property specific. They may be common out west or something, but those things are uncommon in Tennessee.

So you're saying in TN that you can tell the electric guy he can't come on your property to read your meter if it's not in plain sight?????????

 

[WhoSayWho? 5,000+ posts]

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.

I couldn't find any law specifically stating that one must automatically give up their property to exxon if they strike oil. I did find several issues regarding mineral rights, acquiring mineral rights, etc.

Even if Exxon owns the mineral rights you do not have to "give up" your land. You still own it just as you always have. However, in short: mineral rights > surface rights.

 

[Flipx99 5,000+ posts]

How come in California you can pan for gold anywhere you want, and not have to give it to the government?

I guess you are supposed to give it to a gold mining company.

 

[Flipx99 5,000+ posts]

So you're saying in TN that you can tell the electric guy he can't come on your property to read your meter if it's not in plain sight?????????

That is an easement. Not the same as mineral rights.

 

[Flipx99 5,000+ posts]

Even if Exxon owns the mineral rights you do not have to "give up" your land. You still own it just as you always have. However, in short: mineral rights > surface rights.

But how do they go about "collecting minerals"?