Mineral Rights in Louisiana

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Latest post 03-16-2011 7:55 PM by adjuster jack. 3 replies.
  • 03-16-2011 1:08 PM

    Mineral Rights in Louisiana

    I have the mineral rights to my property in Louisiana. If I lose my home to foreclosure, will I also lose the mineral rights I currently have? What about the co-owner who filed a "Quit Claim Deed", but stated she was keeping her claim of 50% of the mineral rights?

  • 03-16-2011 1:34 PM In reply to

    Re: Mineral Rights in Louisiana

    Nancy Jackvony:
    I have the mineral rights to my property in Louisiana. If I lose my home to foreclosure, will I also lose the mineral rights I currently have?

    Probably. The mineral rights run with the land. If you read your mortgage loan contract it probably states that.

    Nancy Jackvony:
    What about the co-owner who filed a "Quit Claim Deed", but stated she was keeping her claim of 50% of the mineral rights?

    "Stated" how? By talking about it or by reserving the mineral rights to herself in writing in the quitclaim deed?

    And is her name on the loan?

    I think those two questions need to be answered.

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • 03-16-2011 7:14 PM In reply to

    Re: Mineral Rights in Louisiana

    1.  Her name is still on the mtg. The Quit Claim Deed says I paid her $10.00 (ten dollars) for her rights to everything above ground, but she retains ownership below ground.

    2.  The Quit Claim Deed states that she retains her 50% of the rights in memorium. And that she has the right to sell or will them, as she sees fit.

    3.  She hasn't resided on the property since 2007 and her whereabouts are unknown to me.

  • 03-16-2011 7:55 PM In reply to

    Re: Mineral Rights in Louisiana

    As long as her name is on the loan, she ends up with nothing if the property goes back to the bank.

    Do you realize that you'll never be able to sell or refinance the property with that kind of hole in the title?

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
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