What has changed is banks in NC will no longer loan on property without the mineral rights. The real estate agent for my neighbor who's trying to sell his property can find no bank that will give her buyers a loan on the property due to the mineral rights being severed. In 1985, when I bought...
I understand your reasoning, sir. But my neighbors and myself feel we're suffering damages due to the way this mineral rights severance has effectively canceled any marketability for any of our properties. I just talked to the neighbor trying to sell his place and he's located a local attorney...
When I bought my property in 1985 with a VA loan, the VA refused to loan the money due to the mineral rights on the property I wanted to buy had been severed and owned by a person who lived locally. It was no problem at all getting a waiver from the VA and I got the loan. I sold off 7.65 acres...