[Homestead] Moral dilemma
bobford79 at yahoo.com
Sat Sep 20 17:54:42 EDT 2008
I'm no moralist, but if you are tempted now; think about if they doubled their offer. What would you do then?
It's your land. Make yourself happy, first. You can not stop them anyway. If they needed your particular piece of property badly enough, they could always get the local gov't to use Eminent Domain. Make sure that your divorce decree didn't allow ex, 1/2 of mineral rights. ...bbof
----- Original Message ----
From: Lynn Wigglesworth <lynnw1366 at hotmail.com>
To: homestead at lists.ibiblio.org
Sent: Saturday, September 20, 2008 1:06:57 PM
Subject: [Homestead] Moral dilemma
I ran into a neighbor today, and he told me that all my neighbors have
signed leases for mineral rights with gas drilling companies. I'm
opposed to gas drilling (we should be investing in renewable energy,
plus they do a lot of damage to the property), so I've been blowing off
the reps calling me about leasing.
The neighbor tells me that people got $2,300 an acre for LEASING the
mineral rights (I think a 5 year lease). I have 42 acres...that's
$96,600 with a good chance that they'd never drill on my property. If
they do drill, I'd get something like 16-19% of the value of the gas.
Possible plus additional for a pipeline on my property. I had to buy out
my ex's share of the farm when we divorced, so I have a big mortgage.
That lease money would almost pay it off, and I wouldn't have to be
applying for jobs washing dishes. My gut still says no; I can't imagine
my beautiful hillside torn up, but it sure is tempting. My neighbors
think I'm the village idiot for not cashing in. What say ye all? Highly
principled or village idiot? Or both?
Tioga County, PA
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