My mother and her brother each inherited undivided 1/2 life interests in oil, gas and mineral rights from their father (my grandfather). The interests to pass to their children. My brother and I received my mother’s properties upon her death (each receiving 1/2 of her half interest or 1/4) and my four cousins each received 1/4 of their father’s half interest upon his death (each receiving a 1/8th). One of the cousins now wants to sell her interests. Can she sell her 1/8th as a fee interest in the undivided property?
Would need to know a bit more detail to know for sure, but in most cases, yes, an undivided interest owner can sell their interest.
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If the cousin has inherited an undivided 1/8 interest in the property, he or she can see it if a deal can be reached. Obviously, the documents need to be reviewed to determine the exact interest involved and the necessary probate actions need to have been completed.
Generally speaking, once one owns an undivided share of anything, that person can sell, lease, gift etc. That is unless there are restrictions. For example, a beneficiary of a trust might not have the ability to sell without the trustee’s consent. This should not effect your interest. So your cousin is likely able to sell her interest. It might be a good idea for a family member to explore obtaining that interest.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
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I agree with Richard. Definitely could be a good opportunity for a family member to buy the interest.
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