Replies to This Discussion

Permalink Reply by Knows-a-little on March 26, 2012 at 4:26am

Check out Trumbull Septic News on Facebook before buying here...something stinks and its not only coming from failed systems...

Permalink Reply by Kim O'Reilly on March 26, 2012 at 5:18am

on my way to FB now....thanks!!!!

Permalink Reply by JR on March 26, 2012 at 5:33am

We just went through this exercise with our land in a different county.  Just because they are transferring mineral rights and royalty rights doesn't mean you are eligible for the signing bonus.  The property could already be leased to an O&G outfit. So, you need to know who owns the "deep drilling rights" and what the lease terms are that you might inherit. And--without a doubt--a thorough title search to be absolutely sure you would own what they say you will.  It's safe to assume you COULD get some royalties down the road.  But it could take years.  

Permalink Reply by Kim O'Reilly on March 26, 2012 at 5:39am

Thanks, I'm going to print that and run it by my realtor.  If we decide we might want it, the deal WILL be contingent with that, among other things.... much appreciated!

Permalink Reply by Tanya Gabriele on March 26, 2012 at 5:38pm

What township is the house in?  Some places, like Bazetta, have terrible ground water.  You need to consider many things besides mineral rights.  If the property is not connected to city sewage and water, you have the immediate expense of putting in a new septic tank--regardless of its age--which is unfair.  If you have well water, it must be tested.  Make sure your wiring and heating is to code etc.