Florida · §689.29Florida subsurface rights disclosure for new construction

Some Florida builders and developers keep the mineral rights under the lots they sell. Florida Statutes §689.29 requires them to say so before the buyer signs. It applies to a 'seller' of property zoned residential on which a new dwelling is being built, will be built under the sale contract, or has been built since the last transfer of the property. If the seller, or an affiliated or related entity, has severed or retained – or will sever or retain – any of the subsurface rights or a right of entry, the seller must give the prospective buyer a disclosure summary at or before the contract is signed. The summary must be conspicuous, in boldface type, and substantially follow the statutory form, which warns that subsurface rights have been or will be severed from the title by deed or reservation; that the owner of those rights may have the perpetual right to drill, mine, explore or remove subsurface resources from the property, directly from its surface or from a nearby location; and that subsurface rights may have a monetary value – followed by the buyer's initials. If the summary isn't in the contract itself, the contract must refer to and incorporate it, with a prominent statement that the buyer should not sign until reading it. 'Subsurface rights' means rights to all minerals, mineral fuels and other resources beneath the surface – including oil, gas, coal, oil shale, uranium, metals and phosphate.