Learn the dos and don’ts of gas and oil rights

REALTORS® shouldn’t underestimate the effect gas and oil rights have on real estate transactions, according to Jim Goldsmith, Esq. of Caldwell and Kearns in Harrisburg.

Marcellus Shale

“REALTORS® need to be aware of how oil and gas rights affect real estate transactions,” said Goldsmith, legal counsel for PA Association of REALTORS®. “Oil and gas rights could expose you to later litigation from buyers and sellers if not handled properly.

“PAR members need to know a few basic concepts of what their role is in this transaction,” he added. “They need to know where to draw the line because this is an issue that skirts the practice of law.

“As we see fuel prices coming down from an all-time high and rising again, the country’s dependence on foreign fuel supplies remains a pressing concern,” he added. “Pennsylvania’s generally not considered a large energy-producing state but as legislators look at oil and gas supplies as revenue generators for the state’s budget, this will continue to be a concern.”

Goldsmith will present the latest information during the telephone seminar, “Oil and Gas – REALTOR® Dos and Don’ts,” Tuesday, Nov. 24 at 10 a.m. The fee is $15 for PAR members, $50 for non-members and is good for one site license.