A Holly Springs Realtor from Team Anderson Realty Explains What the Mineral, Oil and Gas (MOG) Disclosure is For!

Here’s how it started:

D.R. Horton had previously sold property without openly severing the oil, mineral and gas rights, which subsequently became the catalyst for the document creation and use of the mineral, oil and gas (MOG) disclosure in the state of North Carolina. This disclosure is now required for the sale of any land or home, so that the buyer is aware if the seller intends to, or has already severed the mineral, oil and/or gas rights to the land. The seller is, in essence, disclosing if the sub-surface rights to the land have been retained or severed to any third party, and if so, it may require additional title work to identify who owns the land underneath the surface of the property. Although a severing is highly unlikely to occur, this is a very important document to read carefully with your REALTOR to ensure that your seller intends to convey the mineral, oil and gas rights with the property. We at Team Anderson Realty are located in the Historic Village District in Downtown Holly Springs, NC and would be happy to go over any question you may have either in person or on the phone. Please visit: www.TeamAndersonRealty.com or call to speak with a Holly Springs Realtor at: 919-610-5126.