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Mines and minerals lease - common?
TXC
Posts: 265 Forumite
Hi all!
Hope everyone is well! Quick one from me today; progressing with my latest attempt at buying (all looking great so keep everything crossed) and I've just had sight of the solicitors enquiries, on the whole sol. has said there's no cause for any concern by the looks but they have raised an enquiry around the house having a mines and minerals lease and asked seller for indemnity insurance.
I've had a quick google and my understanding is this means I would own the house and the land within the borders but not any minerals found in the land...is this common? as I said sol. hasnt raised any eyebrows but would be good to understand from any knowledgeable people on here any questions I should be asking? (if any)
House was sold as freehold
Hope everyone is well! Quick one from me today; progressing with my latest attempt at buying (all looking great so keep everything crossed) and I've just had sight of the solicitors enquiries, on the whole sol. has said there's no cause for any concern by the looks but they have raised an enquiry around the house having a mines and minerals lease and asked seller for indemnity insurance.
I've had a quick google and my understanding is this means I would own the house and the land within the borders but not any minerals found in the land...is this common? as I said sol. hasnt raised any eyebrows but would be good to understand from any knowledgeable people on here any questions I should be asking? (if any)
House was sold as freehold
0
Comments
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If it;s in a mining area, yes it;s very common - but I wasn't aware it was something you could get indemnity insurance for
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Yes, very common, probably millions don't own the minerals beneath their homes.1
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Why the indemnity insurance? To cover what?1
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Presumably, demolition of the property should the owners of the mineral rights want to use open cast mining - Extremely unlikely as it is getting increasingly harder to get planning permission for quarries.penners324 said: Why the indemnity insurance? To cover what?
Her courage will change the world.
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.1 -
Or any underground mining (also immensely unlikely), or any claim against the surface owner because construction works etc are claimed to have interfered with the minerals.FreeBear said:
Presumably, demolition of the property should the owners of the mineral rights want to use open cast mining - Extremely unlikely as it is getting increasingly harder to get planning permission for quarries.penners324 said: Why the indemnity insurance? To cover what?1
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