Webb Developments has been involved with a couple of development sites recently where the issue of mines and minerals has arisen.
Where a landowner or a previous landowner on a development site has reserved mines and minerals or in some cases has retained the title of the mines and minerals, this can prevent development. Where mines and minerals have been retained in law; if a house builder develops the land, they will in effect be trespassing as they will need to install foundations to develop houses which will mean digging up the minerals to put in foundations. This can be a costly process to resolve in time as well as money. The solutions to resolving the problem to enable land to be developed would be:
1. Obtain defective title insurance (if possible).
2. Negotiating a purchase price with the owners of mines and minerals so they can be bought and then sold to a house builder to allow development to occur.
3. Agreeing an overage with the owner of the mines and minerals.
This is something that can get missed when promoting land. Should you have any promotion opportunities which are subject to mines and minerals, then Webb Developments would be pleased to assist you to enable the land to be promoted.
#webbdevelopments #minerals #mines #development #land #landowner #builder #landpromotion #strategicland #problem #solutions #experts