Subsurface Entry And Mineral, Oil, Gas Rights

[JAM]

Hello Fellow Appraisers,

Does anyone know where I can find "whether the gas, oil, and mineral rights are common to the area and that the exercise of these rights will not result in damage to the subject property nor result in the impairment of the use or marketability of the subject. And appraiser to verify there is no right of surface or subsurface entry within 200 feet of the residential structure." Do I go to the tax record? Does anyone know how to address this request? It's for a condominium unit on waterfront. Thank you so much!

 

[Meandering]

Condo units don't usually have gas, or oil or mineral rights.



Know what happens when you dig a deep hole in the beach?

It fills with sea water.

Meanwhile, you can check with the county planning office to see if anyone has applied for a new permit to create a mineral estate entry way near your subject.

 

[JAM]

LOL...I know Marion! I appreciate your candid humor! The thought entered my mind about the subject being a condo and I thought this was absurd, but I just want to be sure. The attorney reviewing it wants me to put it in the report and honestly I am slightly dumbfounded by it and almost embarrassed bringing it up on here...lol. Oh well, I will double check with the county tomorrow when they open.

 

[J Grant]

What do you mean an attorney is reviewing it... we don't have to put non relevant things or things beyond our scope of work or expertise in a report just because someone asks for it.

 

[JAM]

I meant the underwriter and I was sent the title work. So J Grant, do you think this is non relevant? It has to do with land even though I honestly don't think this applies due to being a condo. I am still unsure where to draw the boundary with some of these requests. I appreciate your advice.

 

[Meandering]

JAM,

If your condo rights include an undivided interest in the common areas, yes, there would be a concern, if, mining was an issue in the area.

I'm no geologist, but what I do know about Florida beaches tells me, this was a check box question, not really a relevant question. But, it never hurts to call the county and ask.

 

[JAM]

Okay Marion, I will check it out tomorrow. It's actually on a canal with direct access---Thank you so much!

 

[Restrain]

The items are legal of nature. It would involve a title search to determine whether any of the properties within 200' of the condo project are impaired, have O,G, etc minerals sold off, if there are leases, etc. you can state if there are any wells observed, but beyond that you are talking legal matters.

 

[JAM]

Got it...that is where I need to draw the boundary. Appreciate it.

 

[Terrel L. Shields]

I meant the underwriter and I was sent the title work.

Look for a mineral reservation there but that means little.
Whomever asked that is a flaming idiot and I would make sure they know it. Running title is a professional sport that is beyond our pay grade. This cannot be determined by you, throw it back on the lender. Mineral reservation are often very opaque and might be buried decades beyond the 30-50 years title searches are made. I appraise mineral rights for a living and i don't run my own title. In fact, I had the client hire one. He worked two days in the courthouse cha-ching- $1,000 plus mileage. I just got his spreadsheet today. In Florida you can find wells here. http://www.dep.state.fl.us/water/mines/oil_gas/data.htm

if a plat of the area doesn't show it and the original deed to the developer pre-construction does not state a mineral reservation then condition the report on a title search by a petroleum landman or abstractor. Throw it back in their face.