Legal Question in Civil Litigation in Virginia
Mineral rights residential
I recently purchased a home in Va.
At closing I find out that the there is an exclusion on the mineral rights.The property was sold with mineral rights in the past to a corp. The closing agent said she would make a phone call to get the details.My real estate agent compared it to selling a car (if a car is sold with it stated that the steering wheel and seats are included and then is resold it is assumed the seats and steering wheel are also sold with the car). After a period of time waiting for the closing agent to contact their (general counsel) My wife and I decided to go ahead with closing. Now weeks after closing and many phone calls the closing agent explains to us that we do not own the mineral rights but we can purchase them from the corp that currently owns them. The realtor and the title co (where the closing took place) is affiliated. Do I have any grounds for a lawsuit.
2 Answers from Attorneys
Re: Mineral rights residential
An owner's title insurance policy has an exclusion as to matters created, suffered, assumed, agreed to by the owner. It sounds like you have no recourse through the title insurance.
Re: Mineral rights residential
Probably not, since you apparently proceeded with the closing after having been informed of the situation with the mineral rights, but you might want to take the matter up with a local attorney
who practices in the area of real property and contract law and who may further advise you on this issue.
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