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Mineral Rights? Some lender just do not understand.
First of all, I am located in Searcy, Arkansas and we have been experiencing a great deal of interest in the Fayetteville Shale, drilling for natural gas.  Our county is one of the primary areas of exploration and that has created a great deal of interest in the owners that are selling their property to retain (keep) their mineral rights when they sell their surface rights.  In Arkansas, mineral rights are superior to surface rights.  Meaning, the surface owners can NOT restrict the mineral owners from gathering any and all minerals from the property.  There are state laws that mineral owners do have to adhere to though. 
With all that being said.  I have a listing under contract and the seller is retaining the mineral rights.  I get a call from the selling agent this morning that states that the lender the buyer is using will not allow the minerals to be retained on a FHA loan.  I told her that I have experienced another lender in town that wanted to put restrictions on the seller in the Warranty Deed that could not be kept by the seller.  I noticed that the Warranty Deed was pretty long and read it before ... more

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