Southern States has secured and preserved its surface access rights in conformity with Florida law.
Southern States’ property interests are real and have value, just as the surface right owner’s interests do. Southern States therefore charges
a fee in connection with granting the surface right owners of land unrestricted access and use of the surface estate of the land. As warranted,
Southern States may retain access rights on small portions of large tracts as future mineral recovery zones.
Southern States’ operations focus on its reserved mineral interests and the associated surface access rights retained in south Florida. Southern
States understandably views such rights as a very valuable asset to be preserved in perpetuity. Over time, Southern States would forfeit much
of the value of its mineral rights though a policy of granting permanent surface access waivers. Therefore the fee to the surface owner for
permanent waivers would have to be very high.
Southern States wishes to facilitate commerce and development.
Therefore Southern States offers time sequential surface access waivers to current owners for a nominal fee. Under the sequential approach, Southern
States’ fees charged to the current owner can be smaller, thus not overly burdening any single buyer. Further, our waiver provides the assurance
that the value of the property will be preserved because it can be sold with our assurance to extend the waiver at a known or determinable,
similarly nominal cost to the next owner.
Otherwise, buyers are at risk with respect to the position future boards or future owners of Southern States may take with respect to whether and
at what fee surface access rights may be waived. Further, this approach does not overly burden
the initial purchaser or developer of raw land who pays a very low price per acre in relation to the ultimate value of the land transactions
some years or decades in the future.
The advantage of clearing title issues for surface access rights means such issues are avoided when attempting to sell or otherwise transfer title
in the future. Our release provides the assurance that the value of the property will be preserved because it can be acquired with the commitment
to extend the waiver at a known or determinable cost to the next owner.
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