I inherited a trust that holds mineral rights in WV. The trust terminated in 2008. What happens to the mineral rights? The taxes have been paid and are current.
The trust still owns the interest until the Trustee or successor Trustee prepares and records a deed to the beneficiaries. Even though the Trust terminated, it can still act in order to clean up or finish its business.
The first step is to determine who is the successor Trustee.
Thank you, Tim, I am the trustee, and my second cousin is the other beneficiary for distribution. Our grandfathers were brothers, and we share the same great grandfather who is the original trustee per the trust doc. Because his grandfather predeceased my grandfather, our side became the trustee.
I would recommend that you distribute the minerals to yourself and your second cousin, individually.