Ok we got another Dump of Snow! How is land rent with flooding in 2013!

[SASKFARMER3]

BTO I kind of agree with you low intest and suckers in city who think land is going to go up. Because some of these guys are buying sloughs lots of sloughs for 200000 to 250,000.
Listen to the financial report from One earth.
THe big boys who put money up know the jig is up and will come out with a share offering for the public, thats their cue to get out of this venture.
Watch it will happen.

[hobbyfrmr]

Ajl, Wigmore is still going, they were bought buy
Pike Management Group correct? Just a different
name.
Looks like Shoemakers farm services won't be
required by Wigmore/PMG anymore. They are
having a farm auction. I figured they would do the
farming for Pike Management Group. They
already know the land.
Why public auction for Wigmore?

[sumdumguy]

Who is the expert on mineral rights? I bought a
piece of land in 2000 with mineral rights.
Apparently the rights were leased to some
company forever. Now a few years back I heard
that the government passed some legislation that
erased those forever leases if a company had not
drilled on the land for 50 years. In other words,
they couldn't just tie up the land forever. Does
anyone know anything about this issue?

[oneoff]

It is generally safest to call "Bullshit" when a deal sounds to good to be true; or some wild unbelievable story is being told, or doesn't pass the smell test .

Mineral lease contracts remain in place for the stipulated times in the signed contracts. They are continued for up to eternity by production of the resource and payment of the stipulated royalty.

The details agreed to in the mineral lease agreement is binding forever under ths period.
And thus the wording of what is being leased is extremely important. For instance do you mean to tie up all zones to "basement" or would it be just be extremely wise to lease the particular zone that the "lessee" expresses interest in.

Sum..guy You may be thinking about Provincial Crown "Deep Rights Reversion".

That applies to Crown Minerals only. The politicans change their laws; but not generally private contracts.

[sumdumguy]

Do you know how to get a copy of the actual
lease. Al land titles themineral rights are
rebistered in my name. If the lease is not with me
then what.? If I can get a copy, guess I will
know.

[oneoff]

I'm certainly not posing was a lawyer; but remeber that all a lawyer will do is give you his "legal opinion".; and ask to be be very well paid.

Mineral titles are separate from land titles in Sask since the ISC Title conversions. Thus a good starting point is to search the ISC web site for a "caveat" against your mineral title. To get a look at; or a copy will cost a minimal amount of money; but there is a lot of info that you can get for free from that www.isc-online.ca web site. Unfortunately getting the lead to the actual caveats isn't one of the free pieces; but the price to get a copy of any caveats isn't as much as the the title cost; annd you can do it yourself..

If you purchased the land; and it was done through the lawyer; all this should have been put in your hands at the time of the land aand mineral transfer.

If you are up to some worthwhile learning experience; then navigate to the web site above and just become familiar with what you can get for free. There's no way to get into trouble as long as you don't provide a credit card number.

THEN create a temporary account with ISC and deposit $10.00 through your credit card; and download the mineral title.

Then deposit another $3.00 which is enough to get acceess to download a caveat.
Then get brave enough to transfer your own titles; etc.etc that you would normally pay a lawyer hundreds and hundreds of dollars.

It's 100% acceptable. You just have to have every last detail in order and ISC staff will cerrtainy help you out.

After when purchasing the properties; you may have beentold it was free and clear of all encumbrances. It would have been nice to also be assured that you (as the new mineral owner) wasn't responsible for all the costs of that new potash mine to extract your minerals that were held under a mineral lease that you had just assumed. (just as an example).

Let us all know how you make out.

[sumdumguy]

I am going to get going on this. Maybe the
company is defunct.LoL

[oneoff]

Then it goes to their heirs, assigns etc.

The odds should are that it was a 3 year or more likely 5 year lease; if it was for petroleum and natural gas. Other valuable minerals and coal are ordinarily leased seperately; and you may very well have all mines and minerals; or ony some of them.
Somwhat depends on your area and who the speculators were.

[Hopperbin]

oneoff, if the owner of the mineral rights is not a farmer then the mineral taxes are not exempted any more and if nothing is done with the land over time the owner would most likely have decided not to pay them, my guess is that the minerals are now in the crown. Do you not have to be a farmer to have the mineral taxes exempted??

[oneoff]

Good question; not fully sure;

But I know a non-resident who had an interest in mineral rights in Sask and never had any taxes to pay to anyone on that asset. I think the taxmmen get interested at income tax time.
Will do a litle research.

[oneoff]

This from the Gov't web site. Taxes applicable only if an individual has more than 3200 acres. Farm Corporations must meet guidelines and other corporations pay a tax.




History

Geological exploration has occurred in Saskatchewan for more than 100 years. Metallic and industrial minerals, as well as fossil fuels have been discovered and developed throughout the province.

In 1870, the Hudson's Bay Company transferred the lands, including mineral rights, it had held in what is now Saskatchewan to the Dominion of Canada. Two years later, the Canadian government introduced the Dominion lands policy. In part this policy allowed the issuance of homestead grants which included mineral rights.

Any homestead grants issued by the government after the late 1800's were for surface rights only. Mineral rights remained the property of the Crown under the federal government.

About this time, other Saskatchewan settlers purchased lands from either railway companies or private land holding companies. In some cases, these settlers also received mineral rights along with their surface rights.

In 1930, Canada transferred ownership of the mineral rights held by the federal Crown since 1870 to Saskatchewan. Approximately 62.4 million acres in the surveyed area are under the jurisdiction of Saskatchewan. Today these provincially held mineral rights are administered by Saskatchewan Energy and Mines. The remaining mineral rights, 17.2 million acres, are held by individuals, companies and corporations.

This private ownership is termed freehold. Fractionally, four-fifths of Saskatchewan's surveyed area is held by the Crown under the jurisdiction of the provincial government and one-fifth is freehold.



Current Status of Mineral Rights

To obtain the status of mineral ownership on any freehold property, the title must be checked at the appropriate land titles office.

Mineral Land Tax

The Mineral Taxation Act provides for a mineral tax to be levied against all owners of mineral rights. An individual is taxed only on the mineral rights owned in excess of five nominal sections, (3,200 acres).

All mineral rights owned by corporations are taxable, with the exception of those minerals within the corporate limits of cities, towns and villages, minerals underlying railway right of ways and cemeteries, and farm corporations which meet certain guidelines. In addition, an exemption from tax is available to mineral rights purchased for reserve creation under Saskatchewan Treaty Land Entitlement Agreements.

Freehold Mineral Rights

Mineral rights may be disposed of under any terms and conditions the owner chooses. A nonresident may own mineral rights in Saskatchewan and is subject to the same rules of taxation and transfer as apply to resident owners

[Hopperbin]

Very interesting. Every now and then there is some very good learning opportunity on this site.

[SASKFARMER3]

Good info thanks

[Hopperbin]

On that last paragraph oneoff? By non resident does that mean non resident of Sask. or Canada?

[oneoff]

Just about fully sure that all Canadian citizens are residents for Sask Farmland purchase purposes. In fact one of the reasons that the Farm Land Security Board grants exemptions (with conditios) is to give non-Canadian persons time to become Canadian citizens.