My father has recently passed. He had a lot of mineral rights deeded in his name only because he had inherited them from my Grandparents. My father had remarried and when he did in his will he had listed that all his personal property that was tangible be left to his wife. So the big question is since they are deeded in his name only will the estate go to probate and are Mineral Rights TANGIBLE OR INTANGIBLE?
Mineral rights are considered “real property” (think real estate) and not “personal property”. Did his will declare to whom his real property was bequeathed? If not, it may follow Colorado’s laws of intestate succession, although I’m much more familiar with Texas real property law than Colorado.
Try and get it figured out and solved ASAP. Get those minerals leased and make some money on them while you can, the industry is slowly taking a turn for the worse. They are pushing those setback limits and now Adams just banned new permits for next 6 months. Tons of oil companies are leaving the state to peruse exploration elsewhere
Thank you for the reply…
Below is the only two paragraphs in the will that mention any property, and I don’t see anything about real property. My father only owned the mineral rights no surface. Also when my grandma passed she had all the sections and mineral rights listed in her will that were to be passed on. This will has no mineral right language in it
ARTICLE III. TANGIBLE PERSONAL PROPERTY.
Except such property used in any business in which I may have any interest, I give my tangible personal property to My Wife, if she survives me. If My Wife does not survive me, I give my tangible personal property to My Children in equal shares. My Children can distribute this personal property in kind. If they cannot determine how to properly distribute the personal property in kind, then the personal property shall be liquidated and the resulting proceeds distributed to my residuary estate. Any personal property not distributed shall be liquidated and the proceeds added to my residuary estate.
My personal representative shall have access to my safe deposit box(es), if any.
All reasonable expenses of storage, packing, shipping, delivery, insurance or sale shall be paid as an expense of administration.
ARTICLE IV. RESIDUARY ESTATE.
All the remainder of my estate, including property referred to above that is not effectively disposed of, shall be referred to in this Will as my “residuary estate”. I give my residuary estate as follows:
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My Wife. If I predecease my My Wife by seven (7) days, I give my entire residuary estate, whether real, personal, or mixed jointly to My Wife.
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My Children. If My Wife predeceases me, or if My Wife does not survive me by seven (7) days, then I give my entire residuary estate, whether real, personal, or mixed to My Children in equal shares or the heirs of My Children per capita by generation.
The minerals are considered “residuary estate” in this case since there is no direct mention of mineral rights in the will. So, the minerals should’ve been passed down per Article IV. Did his wife survive him by 7+ days, or did she predecease him?
She did survive and is well.
If the will is probated, the minerals are going to her. If you are on good terms with her, you could request she allow the Independent Executor(s) to convey some/all of the minerals to you out of the estate. Alternatively, they can be distributed to her outright per the will and then she could gift or sell some/all to you. It’s going to be her choice, though.
If you don’t mind me asking, what is the legal description of the mineral rights property in question?
T-7N Range 64W Sec-3,4,5,9,10,16 T-8N R64W Sec 7,8,9,10,13,15,16,17,19,20,21,22,24,27,28,29,30,31,32,33,34, T-6N R66 Sec 2 T5N R67W sec 2
We have an old ranch map that includes all these areas. Some may or may not be of mineral interest, but the old map reflects these sections from my grandparents and great grand parents ranch.
Are you pursuing the issue further, or letting her sort it out?
This is worth consultation with a Colorado attorney.
I wanted to let her sort it out, because I’m afraid if I get aggressive I won’t get anywhere. Plus I don’t have the money to put up a fight.