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why that was nice
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<blockquote data-quote="WhoSayWho?" data-source="post: 4167055" data-attributes="member: 568804"><p>Generally in the SE - the mineral rights have been signed over 100 plus years ago. I do not know about TN specifically though.</p><p></p><p>99% percent of the time when you buy today you actually are not signing away anything -- you are just agreeing to take <em><strong>whatever</strong></em> the seller has -- and he is not promising that he has a thing (he usually does not know).</p><p></p><p>The standard real estate contract basically says that the seller will transfer the mineral rights to the buyer -- <em>if</em> the seller has any. So whether you realize it or not the contract stipulates that you may not be getting the mineral rights. The deed then has similar language.</p><p></p><p>So, when you leave the closing you have no idea as to whether you own the mineral rights or not. And the seller was in the same boat when he bought the property.</p><p></p><p>Again, this is all "typical." The status of a particular piece of land may be different.</p></blockquote><p></p>
[QUOTE="WhoSayWho?, post: 4167055, member: 568804"] Generally in the SE - the mineral rights have been signed over 100 plus years ago. I do not know about TN specifically though. 99% percent of the time when you buy today you actually are not signing away anything -- you are just agreeing to take [I][B]whatever[/B][/I] the seller has -- and he is not promising that he has a thing (he usually does not know). The standard real estate contract basically says that the seller will transfer the mineral rights to the buyer -- [I]if[/I] the seller has any. So whether you realize it or not the contract stipulates that you may not be getting the mineral rights. The deed then has similar language. So, when you leave the closing you have no idea as to whether you own the mineral rights or not. And the seller was in the same boat when he bought the property. Again, this is all "typical." The status of a particular piece of land may be different. [/QUOTE]
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