Garrett Fulton
New Member
- Jurisdiction
- North Carolina
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 of land to a couple 13 yrs. ago and they recently put their place up for sale due to job relocation. They had a good offer the 1st day it was on the market, but the buyers cannot get a loan from any bank due to the mineral rights still severed from the property. There are 2 families with adjoining land in addition to myself and the couple I sold the land to who are affected by this mineral rights reservation. The people who own the mineral rights refuse to sell them. Effectively, this prevents any of us from selling our land due to no buyers being able to get a loan to buy any of our properties. Do I have any recourse here legally? Their is no fracking at all in this area and any fracking is hundreds of miles from this location.