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All of these promises about PA getting rich on gas royalties and lease fees, how much $$$ will that be with gas below $3?
Oil is going up, Nat Gas down. What happens when oil goes down? They are supposed to trade in the same direction.
The gas market is flooded. It likely will get worse with many new supplies coming on line.
Will the gas folks be able to deliver on their promises?
 

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Over the long term, you won't see prices at these levels.
 

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Pa is not getting rich on gas certain landowners are.Others will still have to struggle to pay the winter gas bill in some cases and others can retire from it.To those that are fortunate enough to be in the select group,good for you.I am happy for all of you.It won't stay low very long they plan on shipping the gas to Europe.That is where all the money comes in.Now Pa should do like Alaska does with oil money and give every PA resident a cut of what they get for gas.Even people getting royalties from a lease.The Pa government won't trust me.They will spend any windfall given to them and then some.They will borrow against anticipated funds and pay interest on it.Bridges will get fixed,welfare will be rewarded heavily and tax payers will still carry the same burden as always.
 

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Not all land owners are getting rich on gas leases and royalties. Some of us are stuck with perpetual leases that were signed early in the last century by previous property owners for pennies an acre. The leases are in perpetuity and convey. The gas company (Columbia Gas Transmission) can pretty much do anything they want. As a matter of fact, they are getting ready to do seismic testing on my land probably during the upcoming hunting season. :-(

I can look forward to surveyors, distribution of montioring/recording cables in large arrays, clearing access routes and small drilling sites for helicopter placed drilling systems..

Of course, Columbia claims they will hold me harmless from claims or injuries arising from THEIR activities on MY land..

I can't believe that a Judge somewhere in PA has not declared these old leases unreasonable and order they be renegotiated.

Best regards, Glenn
 

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oliver88 said:
You need to pull your old leases and go see a real estate atty for help. they don't own what they think they own.
A few questions:
1. How do you find out whether or not someone else holds the mineral rights to a property you own?
2. If the mineral rights are held by a coal company, can they sell them to a gas driller?
Please expand upon your statement that
they don't own what they think they own.
 

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I'm thinking you'd have to do a title search?
 

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i know that a gas company can sell the rites to another gas company. i don't know why a coal company couldn't sell the rites unless there was a stipulation in the contract prohibiting them.
 

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Real Estate is sold in "fee". A Fee Simple Title (dded) is one that transfers the property to a new owner with all rights of ownership. "Simple" - in this context means nothing removed.

Fee can be explained in several ways. Think of any property being reduced to a bundle of sticks. Each stick represents the various aspects of property ownership:

One stick is the water rights.
One stick is the trespass or easement right.
One stick are the gas rights,
One stick the coal rights
One stick the air rights - think condo's. A condo is a owned apartment - thus real estate. They sold the air rights over property to create a fee simple property...

So on and so forth.

Each of these rights can be sold off permanently of for a defined time period. All of these sales of "rights" need be recorded in a deed and recorded in the land records of the local government.

To find out if a property has all the rights "fee" or some have been sold a title search (deed search) needs to be done. It is important that the title on the property be searched back to the very beginning of the land grant if possible. That land grant would read something like" I King Richard do grant and convey to..". Very uncommon to find records all the way back like that, but it does happen.

A title search takes a week or so to do. A attorney practicing real estate law (settlements and the such) will have staff to do these searches. You can also contact abstract companies as they contract to do this work. They are both listed in the yellow pages.

Not sure of the cost involved in this. If the land records are in good order at the court house, it is a matter of going from one deer to the previous one listed. The problem comes in when land is combined and then split, or where there are multiple owners and the deed takes two different courses. It gets further complicated when a property owner dies and the land is sold on the court house steps with a sheriff's note (also for non-payment of taxes).

You can go tot he court house and do your own abstact. Actually interesting to do. If you are a history buff - very interesting! However, if you are looking to have legally reliable information - have a professional do the title search.
 
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