Mineral Rights?

What, if anything, can a homeowner do if their realtor urged them to sign over Mineral Rights to their property because "natural gas hasn't been found in this city for 50 years, and if not, we'd have to rewrite the contract and you can't close on your home today."

If under these circumstances the Mineral Rights were signed over, is there anything we can do?

Update:

We think we may have signed a statement saying that the seller keeps the mineral rights to our property at the urgence of the above statements made by the realtor. She was horrible. We didn't realize, we trusted her. I'm going through our Mortgage papers now to determine if we did our not. All I remember is hearing her make those statements. Oh yeah, our neighborhood is getting a lump sum plus a monthly sum for signing a gas lease.

1 Answer

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  • Jäger
    Lv 4
    1 decade ago
    Favorite Answer

    If mineral rights are actually coming with the property, why sign them away? And why would a "Realtor" even suggest that you do such a thing? And why wouldn't you be able to close? Why didn't the Realtor know of a problem before hand?

    More info please. Something doesn't sound right.

    Edit: Yeah.... If I were the agent, I would have know long before hand about this deal. And if the were unaware, they aren't worth there salt. You may be able to take some kind of action against them or report them to the state in writing.

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