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I've been told that in northern New Mexico most of the mineral rights where sold off long ago, in the 20's and 50's, and sold off pretty comprehensively. Meanin
by nmcfarl 14y ago
I've been told that in northern New Mexico most of the mineral rights where sold off long ago, in the 20's and 50's, and sold off pretty comprehensively. Meaning there are parts of the state you just couldn't live in if you refused to live on land that no longer had its mineral rights. Also meaning those people there now where not directly compensated for them, thus have not thought of the issue. (Presumably, this is priced into the market and land values are lower, but with real estate pricing being so dynamic people probably don't consider this either)
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It should be noted that my sources are people I vaguely knew about 10 years ago, who where whinging about oil men. So not reliable. But if true, it makes a more compelling story for people complaining about oil men. Also it must be said - oil men are probably going to elicit complaints where ever they move in as their personalities, and manners, are not, as a rule, refined...
- jensonkko 14y agoSomething else grandpa did to fuck us over! Fucking asshole.
- jensonkko 14y agoI mean that as a legitimate comment! The guy who owns the farm now who is getting fucked over by the oil companies having mineral rights, was actually fucked over by his grandfather when he owned the land, selling off the rights.
- eru 14y agoThe grandfather was under no obligation to leave even the land sans mineral right to his heirs.
- at-fates-hands 14y agoInteresting. My grandfather and five of his college friends bought into some oil rights in Western ND back in the 1950's. When he passed away, he willed the rights to his six kids (My Dad was one of them). Nobody thought they were worth anything, but continued to hold on to them for whatever reason. Imagine the families surprise when several oil companies started calling to get permission to start taking field samples on the plots they owned. They've continued to make good money on the plots and are now just waiting to see if the "big payout" ever comes, where an oil company would want to buy the family out of its ownership.
- fusiongyro 14y agoThe water rights situation is pretty similar all over the state.