What is the name of your state (only U.S. law)? WVa.
I was recently contacted by a lawyer for a guy who purchased some mineral rights. In doing title research they discovered that my grandfather set up four trusts in which these right were evenly distributed. One of these was my grandmother's and the other my father's. Upon their deaths, these rights would then pass to me at the age of 21. I'm 39 and my grandmother and father have been dead for over 20 years. So basically I'm learning that in fact these mineral rights may have been exploited for 18 years without my knowledge and now they have been sold.
The lawyer didn't know anything more about the trusts than the location and it was the cousin who sold the rights who first made me aware of the question and suggested the lawyer contact me.
So, I'm not sure what happens next.
Do I have any rights?
Can I refuse the sale?
Am I legally due 50 percent of the sale price?
Are the trust invalid?
Has inaction regarding the trusts for so long caused title to go to the bank?
I am going to contact the bank and begin researching the trusts, but does anyone have any initial advice or info on this interesting and tangled legal matter?
Anything would be appreciated.
Thanks in advance.
I was recently contacted by a lawyer for a guy who purchased some mineral rights. In doing title research they discovered that my grandfather set up four trusts in which these right were evenly distributed. One of these was my grandmother's and the other my father's. Upon their deaths, these rights would then pass to me at the age of 21. I'm 39 and my grandmother and father have been dead for over 20 years. So basically I'm learning that in fact these mineral rights may have been exploited for 18 years without my knowledge and now they have been sold.
The lawyer didn't know anything more about the trusts than the location and it was the cousin who sold the rights who first made me aware of the question and suggested the lawyer contact me.
So, I'm not sure what happens next.
Do I have any rights?
Can I refuse the sale?
Am I legally due 50 percent of the sale price?
Are the trust invalid?
Has inaction regarding the trusts for so long caused title to go to the bank?
I am going to contact the bank and begin researching the trusts, but does anyone have any initial advice or info on this interesting and tangled legal matter?
Anything would be appreciated.
Thanks in advance.