Broome County Leaning Against Stripping Mineral Rights Away From Delinquent Owners Who Repurchase Property Earlier Lost In Tax Foreclosures

In Broome County, New York, the Binghampton Press & Sun Bulletin reports:

• Hard-luck Broome County property owners who lose out on tax foreclosures should keep their mineral rights, a special committee is recommending. Under a proposal to update county policies, Broome County will give up its claim to potentially lucrative mineral rights on properties lost to foreclosure and then repurchased by their original owners who show hardship. [...] The issue came to light last year after Broome's Office of Real Property retained mineral rights to three of 12 foreclosed properties that were later repurchased by their owners.

For more, see Legislators: Let mineral rights revert (Change would help foreclosed owners).

For follow-up story (8-15-09), see Tax foreclosures, mineral rights explained.

Go here for other posts on those looking to strip property owners of their mineral rights. MineralRightsAlpha