Before You Sign a Natural Gas Lease
Please consider the following:
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Have You Checked With Your Mortgage Holder?
There is the potential conflict between the terms of home mortgages and the terms of gas leases. Simply stated, most home mortgages prohibit hazardous substances and activities that gas leases permit. Read more... |
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Did You Know that Your Property Value Can Plummet?
Do You Have Well Water? The Denton (TX) Record Chronicle reported in September 2010 that the home and 10-acre horse property of Tim and Christine Ruggiero had been reduced in value from $257,330 to $75,240. Read more... In a report from Bradford County, PA, PA DEP officials encouraged Jared and Heather McKikens to evacuate their home, which was contaminated with explosive levels of methane gas as a result of nearby natural gas drilling activity. Their well water was also polluted. Their home and property value has plummeted 85%, from $250,000 to a value now appraised at $35,000. Mr. McKikens said, “When your house does not have fresh water it’s pretty much worthless.” Read more... |
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Do You Live on a Flood Plain? FEMA says no flood assistance for property owners with natural gas leases. It means that FEMA will not buy out flood-prone properties or pay to assist raising or relocating homes and other structures if the owner has signed a lease with a developer. Read more here. |