Tag Archives: owner

Are you ready to be a homeowner?

June 28, 2020   Loan Tips

There is certainly no doubt that everybody wants to own a home. To not have to pay rent, to have some equity, and, hopefully, to have something that actually builds value over time, perhaps providing you with a sufficient fund for when you reach retirement. Perhaps most importantly, however, is that it is a home that you own.

Home ownership is a dream for most people, there is no doubt about that. Today, that dream is more accessible to more people than it has typically been in the past. However, not everybody is ready to own a home.

There are a lot of things to consider before taking that first step towards home ownership. Buying a home can be a great experience, but it is always a large responsibility, so you really need to stop and consider whether or not it’s a responsibility that you’re willing to take on right now.

In an effort to help you reach that decision carefully, we’ll provide you with a simple checklist for the potential new home owner. Consider these to be some basic questions to ask yourself:

1. Am I ready and able to settle down?

“Settling down” might not mean “permanently”. It’s certainly possible to buy a home, sell it, and move within a few years time. However, you need to consider whether or not your lifestyle really accommodates home ownership. Do you spend most of the year travelling for work? If so, buying a home might not be top priority. Rather, it may be wiser to start saving and investing so that you can afford a home when you’re ready.

2. Do I want the added responsibility of paying off a mortgage?

To be perfectly frank, it is possible to arrange a mortgage deal that will have you paying less per month than many people pay simply to rent an apartment. However, the consequences for failing to make mortgage payments on a timely, regular basis can be more severe than the consequences for being late making rent on an apartment. Simply put, a home owner’s credit is on the line.

3. Can I afford a home?

The recession and the housing crisis have been difficult on everyone. If you are one of the many struggling to make ends meet, then we refer to point two: Taking out a mortgage will only compound your problems, not solve them.

We don’t mean to scare anyone away from pursuing the dream of buying their first home, we simply want to make clear the weight of the responsibilities home ownership carries.

All of this considered, if you are in fact ready to become a home owner, then by all means, do a little research and find a home loan deal that will work for you. Just bear in mind that the key word there is ‘research’. Once you’ve decided to become a home owner, you still have a number of decisions lying ahead of you, so make sure to educate yourself and make the choices that will help you achieve your goals.

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What Is Mineral Rights Leasing?

August 27, 2019   Auto Loans

The importance of energy, oil, coal, and other minerals and natural resources is very evident throughout the world. The demand for commodities such as oil and gas is increasing and many energy and mining companies are on the lookout for land and properties rich with minerals. With energy and mining companies looking and mineral rights owners possessing the potential to get a big profit, mineral rights leasing is undeniably a growing trend in the real estate market and energy/mining industry.

But what is mineral rights leasing all about?

A mineral rights lease is a formal agreement between two or more parties where one party gives the other the right to make use of the minerals in the property involved. In a situation between a mineral rights owner and an energy and mining company, a mineral rights lease is where the owner of the land and/or mineral rights gives the energy and mining company to drill or mine away the minerals underneath the ground.

The mineral rights owner gets benefits in return, of course. The mineral rights owner can get a bonus payment, royalties for every product (that resulted with the minerals) sold, and any other conditions that both parties have agreed to in the contract.

Mineral rights leasing is a complicated matter. This is because it doesn’t just concern the mineral rights owner and the energy/mining company. In some cases, it concerns the surface rights owner who may not be necessarily be the mineral rights owner.

The mineral rights owner may not necessarily be the surface rights owner for the particular reason that mineral rights are not the same as surface rights. Both are different from each other. While surface rights refer to the rights to work and operate on and above the surface, mineral rights pertain to the rights used to explore and produce the minerals below the surface.

In cases wherein the surface rights owner isn’t the mineral rights owner, one would have to speak to both the owners to get permission to operate on the property for the minerals. While the surface rights owner may not have any say in the operations to extract the minerals, it is still his/her property that will be involved. It is his/her property that will be bombarded with big machines and workers. Disagreements and disputes may erupt before and during the mining operations so all parties should be accounted for. It is wise to be specific of every detail involving all parties’ conditions in the mineral rights lease to prevent future problems.

As implied by the definition of mineral rights leasing, this is no simple matter. Mineral rights leasing is complicated from the start to the end of the operations. The contract is a very big deal, and legalities have to be satisfactory for all parties to be in agreement. When problem comes before the parties about the rights of each one of them, it’ll be the contract or lease agreement that’ll steer them all clear. Make sure to consult lawyers regarding mineral rights leasing. Asking for help from geology surveyors and real estate agents is also recommended.

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