As executor for an estate and trustee for a property within the estate I have a confusing situation. The will divides by thirds “all of the oil, gas and any omitted property of the decedent”. The iodine well was not so much as thought about prior to the death of the property owner.
The well in question was an abandoned gas well that was purchased by an adjacent surface owner many years ago. About 5 months after the estate owner passed away, an iodine company acquired the right to produce natural gas for which royalties are being paid to the three children of the decedent. Brine to produce iodine is also being pumped. The royalty for the iodine production is being paid to the trust. It is my thinking the iodine royalty should be divided equally between the 3 children of the decedent because of the line in the will that states “all of the oil, gas and any omitted property of the decedent” The property with the iodine and its surface ownership of same was went to only one of the 3 inheritors. Anyone have an opinion?
Edward: Welcome to the forum.
Your question was a little confusing. Not sure whether the property titled in the trust before decedent’s death. This all has to do with the title to the property and provisions of the trust. You should have an attorney in the state where the minerals are located review. You might begin with searching the directory:
