D.R. Horton to return mineral rights to Florida homeowners
Attorney General brokers deal for oil and gas exploration
The attorney general of Florida, Pam Bondi, announced that homebuilder D.R. Horton (DHI) is sending letters to around 18,000 Florida homeowners to give them the option to receive their mineral rights.
This would include oil and gas exploration. It is not uncommon for homebuilders to retain mineral rights, in an exercise growing more and more contentious according to an in-depth feature on the topic in HousingWire magazine (paywall).
"By my office contacting and working with D.R. Horton, homeowners now have the option to receive their mineral rights, and I encourage affected homeowners to complete the certification form they will receive by February 28," stated Attorney General Pam Bondi.
D. R. Horton previously kept mineral rights from its Florida home sales. The rights were then conveyed to subsidiary, DRH Energy.
Bondi's office said it expects the Florida Legislature to one day provide more guidance on the mineral rights disclosure issue.