Waiving Mineral Rights
I'm reading an Addendum to the Purchase and Sale Agreement for a wholesale deal and I came across this item in the contract:
Mineral Rights Disclosure: Seller reserves all existing mineral rights to the Property. However, Seller waives and conveys to Buyer the right of ingress and egress to and from the surface of the Property relating to the portion of the mineral estate owned by Seller or other entity(s).
1. When you guys purchase properties, do you typically waive the Mineral Rights in your contracts? Is this a typical clause that wholesalers will include in their Addendums?
2. Do you guys typically hire a real estate attorney before purchasing a deal either through a wholesaler, or through any other means?