Homeowners and Gas Drilling Leases. by Elizabeth Radow. NYSBA Journal nov-dec2011.indd
October 29, 2011
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Homeowners and Gas Drilling Leases. by Elizabeth Radow. NYSBA Journal nov-dec2011.indd
Great article by Beth Radow –
In some Texas towns, the gas well setback is 1000 feet from a house, so mortgages/ homeowners liability less of an issue
In NYS, the setback of a gas well from a house is 100 feet = GEIS 17 A. 1. B. 1. b. = which would put any mortgage into default.
That plus NYS egregious CI law and a NY mortgage covenant could trip.
As evidence of risk increases, the mortgage and insurance guidelines will change
Meaning the lender’s mortgage /insurance setbacks will increase for houses on water wells in particular.
As gas wells age, they leak on the outside of the outermost casing. This introduces methane into groundwater. Which pollutes wells.
Not much of a problem in Texas, New Mexico or Colorado = no ground water wells. In NY, a problem.
So mortgage / insurance guideline/ covenants are apt to become more stringent for NY rural residences on water wells. ]
Would not let this go unremarked . . . .http://www.sourcewatch.org/index.php?title=DSGEIS_Responses
Jim Northrup
GDACC 
