Comments

Dave Denniston on All Things Raw Land – Epi-2947 — 4 Comments

  1. Jack,
    You spoke some on mineral rights for land. Could you do a show on that as it is a mystery to me and what if someone wants to get involved in buying mineral rights or buying oils/gas wells? I know someone that owned one but have no idea how one would acquire? How do you buy land and know it also includes the mineral rights?

  2. Texas is not the place you want to do contracts for deed or lease to own. They.changed the law and it’s extremely risky to the seller. RE is great but there are a lot of potential pitfalls if you don’t understand the laws in the state and the actual interests you are buying. Mineral interests are extremely different depending on which state you’re in. In TX, on acreage tracts, unless you own 100% of the executive rights in the mineral interests, you are at risk of future drilling activity on the property, without adequate compensation. In TX, surface ownership is always subservient to the underground mineral Interests. So, always ensure there are no mineral leases in place on the land and review the recorded exceptions on the title policy before you purchase.

    Just understand the guest is acting as a Seller, not a broker and there is a difference in the legal responsibilities and fiduciary duties to the buyer, in each state. After over 3 decades investing and analyzing RE, I would not purchase RE without an abstract from an attorney or a title co closing with insurance policy. Lastly, don’t buy any real estate without personally inspecting the property and doing your own due diligence, and that takes time and money.

  3. Dave, or Jack if you know

    How does a person know if the land has, or has had, fracking on or near the property?

    Or any mining for that matter?

    Evelyn

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