LAND BUYING: DO'S AND DON'TS

(Page 3 of 8)

Article Tools
Bookmark and Share

Some 25 years later, however, after his orchards and gardens had matured and were actually supplying his entire income, he came home one day to find his house being bulldozed and one of his orchards already gone! Coal had been found on his land, it seems, and his deed stated plainly that the only compensation due him was the cost of the materials in his house and barns. In this situation, the farmer had absolutely no legal recourse.

RELATED CONTENT

Remember that just because no minerals of value have been found on your potential property, there's no guarantee that one or more won't be discovered there sometime in the future . . . or that a new use won't be found for a "worthless" mineral that you do know is there.

WHO OWNS THE TIMBER RIGHTS?

In most cases, timber rights don't pose much of a problem. A property owner will usually receive them conditionally. For example, you may be granted only enough timber to provide yourself with housing and fences until the land is paid for.

However, do be sure to find out whether there's a timber contract out on the place. If there is, extreme caution is in order. You'll want to learn when the contract expires . . . how many board feet the logging company is allowed to take, and of what species . . . and how that cutting will affect the looks of the land. Also, be sure to find out what condition the loggers are required to leave the property in after the harvest . . . then make certain that the company lives up to that agreement, or you could come home to an incredible mess.

In fact, after looking over the land's timber contract, you may decide that you don't want to buy the property after all . . . or at least that you want to reconsider the amount you're offering.

HOW ABOUT EASEMENTS?

It's also important to research easements . . . the rights and privileges that persons may have in another's land. First, find out what easements are available to you over other people's property. For example, if you're not on a county road, you'll want to know whether the easements are wide enough to meet county specifications and permit public access, in case you and your neighbors later decide to have a road put in. (I know of one couple living on a fairly populated road that the county said it was willing to maintain if all I S families along the route would grant a 60-foot right-of-way. All but one—a man whose house is almost at the beginning of the road—are anxious to have that convenience, but that fellow has refused to give up the 30 feet required.)

In addition, you may want to make cer tain that easements are available to you for power and telephone lines. Even if such trappings of civilization aren't important to you now, they might be later . . . and they almost certainly will be to your potential buyers, should you ever choose to sell your spread!

Page: << Previous 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Next >>


Subscribe Today - Pay Now & Save 66% Off the Cover Price

First Name: *
Last Name: *
Address: *
City: *
State/Province: *
Zip/Postal Code:*
Country:
Email:*
(* indicates a required item)
Canadian subs: 1 year, (includes postage & GST). Foreign subs: 1 year, . U.S. funds.
Canadian Subscribers - Click Here
Non US and Canadian Subscribers - Click Here

Lighten the Strain on the Earth and Your Budget

Mother Earth News is the guide to living — as one reader stated — “with little money and abundant happiness.” Every issue is an invaluable guide to leading a more sustainable life, covering ideas from fighting rising energy costs and protecting the environment to avoiding unnecessary spending on processed food. You’ll find tips for slashing heating bills; growing fresh, natural produce at home; and more. Mother Earth News helps you cut costs without sacrificing modern luxuries.

At Mother Earth News, we are dedicated to conserving our planet’s natural resources while helping you conserve your financial resources. That’s why we want you to save money and trees by subscribing through our Earth-Friendly automatic renewal savings plan. By paying with a credit card, you save an additional $4.95 and get 6 issues of Mother Earth News for only $10.00 (USA only).

You may also use the Bill Me option and pay $14.95 for 6 issues.