TV News LIES

Sunday, Mar 26th

Last update05:20:13 AM GMT

You are here News Domestic (USA) U.S. builders hoard mineral rights under new homes

U.S. builders hoard mineral rights under new homes

E-mail Print PDF

Mineral rightsRobert and Julie Davidson fell hard for the gleaming new house at the Valencia Golf and Country Club in Naples, Florida. They loved the way the palm-fringed, Spanish-style home backed up to the fifth-hole fairway. And they were taken with the three-bedroom's high ceilings and open plan. Plus the neighborhood - with its power-washed driveways, blooming hibiscus and guarded gatehouse - seemed all "dressed up."

But when the Davidsons paid $255,385 in 2011 for the house on Birdie Drive, they didn't know that they had, in essence, bought only from the ground up, and that their homebuilder, D.R. Horton, had kept everything underneath.

"Wait a second, wait a second," Robert Davidson said after a reporter told him that a search of county records showed that D.R. Horton still owned the oil, natural gas, water and other natural resources beneath his and his neighbors' homes. "Let me sit down a minute here. They have the mineral rights to the land I'm on?"

In golf clubs, gated communities and other housing developments across the United States, tens of thousands of families like the Davidsons have in recent years moved into new homes where their developers or homebuilders, with little or no prior disclosure, kept all the underlying mineral rights for themselves, a Reuters review of county property records in 25 states shows. In dozens of cases, the buyers were in the dark.

More...


Most Recent Related Stories...


One killed, 14 injured in shooting at Cincinnati nightclub

Cincinnatti shootingPolice in Cincinnati said one person was killed and 14 injured during an early morning shooting...

Singapore teen blogger Amos Yee granted U.S. asylum

Amos Yee granted asylumThe United States granted asylum to a blogger who was twice jailed in Singapore for expressing...

Asked about Manhattan murder, de Blasio says 'dynamic of hatred' is 'clearly' linked to Trump

Bill DeblasioMayor Bill de Blasio is calling what police said was a racially-motivated murder of a black...

The Supreme Court Rules In Favor Of A Special Education Student

Supreme Court Justice RobertsSchool districts must give students with disabilities the chance to make meaningful, "appropriately ambitious" progress, the...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!