In 2000 I bought my home and 5 acres in Upstate NY and the following year bought a seperate parcel of property that is adjacent to it ( it once went with the house and 5 acres I bought in 2000. I have been exploring my options and thinking about leasing to a natural gas company, however I am now being told I only own 1/3 the mineral rights to the property. Apparently in the 1930's when the " Jones " family sold the property, they retained 2/3 mineral rights. When looking at my deed, sure enough down through the decades that stipulation is left on all transactions, no matter who purchased the land. I questioned my attorney on this and he said he was aware of it at the time but there were no options, and that it was to be clarified so I can enter into a lease agreement, then the gas company is responsible for attempting to locate any heirs, or ensuring there are none. The deed says nothing of the surface rights, so he said they can't drill or otherwise explore without my consent, but I can't lease out the natural gas, as I don't own the full mineral rights. Any thoughts or suggestions as to what my options are here ?




Bookmarks