I am looking at buying a home in NE PA on 8.25 Acres. The gas industry is booming here and leases are being signed every day. The current owner of the property does has surface only. What was stated to me by the realtor is that the insurance co. of Chesapeke Gas traced the mineral rights back to 1912 with a Name. I was told we would need to get a "Quiet Title" and would need a lawyer and some cash. Is this a nightmare waiting to happen? If we purchase this home can someone else come in and claim the mineral rights before we can? Can some long lost family member of this guy from 1912 come in and claim ownership before we can get this quiet title? Is it possible we could buy the home and not be approved for the quiet title?Should we walk away from this deal ?
Thanks a lot for looking...I look forward to getting some help.