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01-15-2008, 08:01 AM #1
Family ranch question?
My grandfather and grandmother owned a ranch here in Texas that was around 150+ acre's, with lot's of wood's and cold spring's etc etc, and it was a 50/50 ownership. Once my grandmother passed away her half was left to her children and my grandfather had disappeared not speaking to anyone for 20+yr's. Well he ended up getting very ill and to pay for his medical bill's sold the entire ranch, including the half left to the sibling's by my grandmother.
From the little bit of info I have recieved from my mom, the oldest of the 9 kid's, is that the lawyer one of my aunt's has retained is that they are "still working on it' but it has been aleast 4-5yr's
! I would like to know what are some of the initial step's and contact's I should make to resolve this issue? There has been something mentioned considering 'mineral right's" but I believe we are entitled to 50% of the property.
Any insight, suggestion's or advice would be greatly appreciated.
Thank you,
Gregg
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02-26-2008, 05:43 AM #2
Condominium
- Join Date
- Feb 2008
- Location
- Tampa, FL
- Posts
- 234
Wow, this sounds like a real can of worms! I'm not an attorney, but I think I would have my own attorney represent me. That is unless the aunt's attorney is on retainer by all family members and you can speak directly with the attorney about the status.
I think somewhere in my classroom training I remember something like this presented and that the survivor of the proptery owns it until their death and then passes on to the childern. I would consult with an attorney.Search the Tampa Florida Real Estate MLS
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02-28-2008, 06:06 AM #3
We finally have a good attorney who is making great progress as the case should be settled by the end of the year if not sooner. The whole sale of the property was forged by my grandfather and after reviewing and gathering data the attorney took the case because it's a shut and dry case. We will not be getting the property back but we will be getting 100% of the mineral right's which is the best situation. I just found out this weekend that our property in Robertson County is sitting on a huge natural gas reserve and they have been drilling for about the past year and a half to two year's. There are property owner's around us who are recieveing anywhere from $50K-$1M a month in royalties.
They currently estimate that my mother and her 7 brother's and sister's will be recieveing around $50K in royalties per month to split between them but it could be much higher as they are still putting well's in. So all is good.
GreggLast edited by texasmr2; 02-28-2008 at 06:11 AM.



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