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BBJ:
FLB was establish after WW1 to provide low interest loans for farmers to buy land. They went broke in the 30's and again in 85. Our government bail them out both times
Told they are own by the customers (paid off the federal bailout) and get their funds on the open market. I know in pre 85 if you were alive, you could get a loan from FLB.

When my dad bought back the land his uncle own from FLB they kept 50% of the minerals. There are rules concerning this. One being they could only own this land for 5 years, but mineral rights were not under this rule.
I do not feel it was ever their mission to own this right for ever after they repo land. Nor do i feel the state should own mineral rights on land own by individuals.
I would suggest all these rights be given back to the surface owners and also for any other organization like these two to also give back. No more sale of mineral right to other than the landowner and over time all Indvidual mineral rights be return to the landowner when the current owner's dies. Maybe the surface owner would need to pay something but minimum.

Never happen.
As far as them getting mineral rights when they made a loan, no idea. db

<blockquote data-quote="db-2" data-source="post: 357920" data-attributes="member: 4743">BBJ:FLB was establish after WW1 to provide low interest loans for farmers to buy land.&nbsp; They went broke in the 30's and again in 85.&nbsp; Our government bail them out both timesTold they are own by the customers (paid off the federal bailout) and get their funds on the open market.&nbsp; I know in pre 85 if you were alive, you could get a loan from FLB.When my dad bought back the land his uncle own from FLB they kept 50% of the minerals.&nbsp; There are rules concerning this.&nbsp; One being they could only own this land for 5 years, but mineral rights were not under this rule.I do not feel it was ever their mission to own this right for ever after they repo land.&nbsp; Nor do i feel the state should own mineral rights on land own by individuals.I would suggest all these rights be given back to the surface owners and also for any other organization like these two to also give back.&nbsp; No more sale of mineral right to other than the landowner and over time all Indvidual mineral rights be return to the landowner when the current owner's dies.&nbsp; Maybe the surface owner would need to pay something but minimum.Never happen.As far as them getting mineral rights when they made a loan, no idea.&nbsp; db</blockquote>

[QUOTE="db-2, post: 357920, member: 4743"] BBJ: FLB was establish after WW1 to provide low interest loans for farmers to buy land. They went broke in the 30's and again in 85. Our government bail them out both times Told they are own by the customers (paid off the federal bailout) and get their funds on the open market. I know in pre 85 if you were alive, you could get a loan from FLB. When my dad bought back the land his uncle own from FLB they kept 50% of the minerals. There are rules concerning this. One being they could only own this land for 5 years, but mineral rights were not under this rule. I do not feel it was ever their mission to own this right for ever after they repo land. Nor do i feel the state should own mineral rights on land own by individuals. I would suggest all these rights be given back to the surface owners and also for any other organization like these two to also give back. No more sale of mineral right to other than the landowner and over time all Indvidual mineral rights be return to the landowner when the current owner's dies. Maybe the surface owner would need to pay something but minimum. Never happen. As far as them getting mineral rights when they made a loan, no idea. db [/QUOTE]

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