TV News LIES

Friday, Oct 24th

Last update05:59:50 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...


California Prisons to Desegregate

Clifornia prisons desegregateCalifornia officials agreed Wednesday to end a policy in which it segregated prison inmates after riots...

Fake classes, inflated grades: Massive UNC scandal included athletes over 2 decades

UNC althetic fraudA scandal involving bogus classes and inflated grades at the University of North Carolina was bigger...

Intruder caught after scaling White House fence

White HouseA 23-year-old Maryland man was in the custody Wednesday night after he climbed over the White...

Former Washington Post editor Ben Bradlee dies

Ben BradleeBen Bradlee, the hard-driving editor who reigned over the Washington Post newsroom with the style of...
 
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!