how can I get vaue of inherited land from 5 years ago in Howard county Description
All of Section 47, Block 32, T3N, Abstract 298 640.00 39.82336
or even way back when first beginnings in early 1900s
You are asking about a forensic evaluation. You would need the value as of the date of death of your ancestor or six months later whichever is more favorable to you. The Directories tab above lists professionals that may be able to help you. If you are talking about minerals, then you need an engineer to do the evaluation. If you are talking about surface rights, then you need a real estate evaluation.
M_Barnes,
I joined this forum because I saw your posts and was impressed with your topic knowledge.
My sibling and I inherited 80 acres of mineral rights in Oklahoma, and wondered if you could answer some questions. I think this land has historical value. I have original Certificate signed by President McKinley and the Chief of the Cherokee Tribes.
East Half of the Northwest Quarter (E/2 NW/4) of Section 15, Township 18 N, Range 9 E and containing 80.00 gross acres, more or less.
We are trying to learn about the mineral rights and see if there is any value or potential. We have been paying legal and court costs to transfer title to me and my four siblings, but the value is unknown.
Welcome to the forum! I am a geologist and not an engineer, so cannot give an actual value. There are several engineers listed in the Directories tab above who could comment on the value. Perhaps one will see this post. I would not worry about it too much. The only well that I see in that tract was drilled back in 1954 and has essentially no data shown, so no royalties.
As you are doing the legal work, specifically ask about the mineral rights. If you have Native American ancestry and received the rights that way (hint from the chief signing the paperwork), you may have to do some legwork through the Bureau of Indian affairs. They insert themselves through all leasing, so that is another layer of paperwork. Something was leased back near 1954 or they could not have drilled that well.
There are no current leases in this section in the last few years. There are some in the township, so time will tell if they spread to your area. This particular area is not in the hot shale play of the central part of Oklahoma, so you value is likely to be very low at this time.
Welcome!
Hi Jana1, I have been working on mineral rights transfer to me and my siblings for about a year now. I found that the court fees and attorney fees are about $2,000-$2,000 for each state to transfer deed to the rights to heirs. It is possible that the value of the mineral rights or land may be less than the money spend to get the deeds transferred. I think courts and attorneys are happy to provide these services each time someone passes it along to their children, but it is possible that the value of the asset is very small and gets fractionally smaller each time it gets passed down to children. As an example, I have four siblings, and my dad had 1/16 of 1% of a claim, so now we have 1/5 of 1/16 of 1%. My dad got a check for $36 a few months ago, and that is the only check we saw for about two years. It may not be worth the trouble. Getting land valuation also costs money. Many of the mineral rights that people are inheriting have had no activity in many years, and possibly no interest for anyone, so the asset may no be worth keeping? I am sure you will figure this out as you go.
thank you so much for time …it’s something I at this point need to find out from sibling…just was curious if there was any other way around that…nevertheless thank you again…
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