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mineral rights
Our family had mineral rights in Norman, Oklahoma and received a very small check each year. It would be helpful to determine the percentage share that goes to your client and how many shares there are. These rights are difficult to sell so when somebody dies the fractional shares are further split and many checks are small. In years past people sold property and retained the mineral rights, it hasn't been done in a long time, so these are usually on old gas or oil wells in Oklahoma.
Margaret Norman, Attny
111 N. Sepulveda Blvd. #355
Manhattan BEach, Ca. 90266
310-376-7873
The post was migrated from Yahoo.
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There are no special exemptions - it's wildcard or nothing.
Mineral rights are valued based on anticipated distributions. Look at the
distribution history.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
lindseybgreen
Sent: Tuesday, April 27, 2010 9:12 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] mineral rights
Facts- debtors, having yet to file, have mineral rights that will come from
debtor's deceased mother after mother's estate is distributed. Mineral
rights are in Oklahoma. Unclear as to monthly or annual distribution
monetarily of mineral rights historically. Where are mineral rights listed
on Schedule "B" as still in mother's estate? How are mineral rights valued?
Are there exemptions associated with the mineral rights beyond the wild
card? How would this potential income affect schedule "I", if any as to
future income?
Thanx in advance.
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgree n.com
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Message
There are no special
exemptions - it's wildcard or nothing.
Mineral rights are valued
based on anticipated distributions. Look at the distribution
history.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Facts- debtors, having yet to file, have mineral rights that will come from debtor's deceased mother after mother's estate is distributed. Mineral rights are in Oklahoma. Unclear as to monthly or annual distribution monetarily of mineral rights historically. Where are mineral rights listed on Schedule "B" as still in mother's estate? How are mineral rights valued? Are there exemptions associated with the mineral rights beyond the wild card? How would this potential income affect schedule "I", if any as to future income?
Thanx in advance.
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
The post was migrated from Yahoo.