I am in need of information regarding mineral rights that were inherited from our mother in 2009. I joined this group hoping to learn more about mineral rights (we are not surface owners, just the mineral rights).
My oldest sister is the trustee and has not really done anything with getting the mineral rights transferred in to our individual names, and, although she has an attorney who is helping her, I feel that none of them have enough knowledge to do this properly.
Her attorney wants to hire a probate referee to do the appraisal of the mineral rights in Wibaux County, Montana & Golden Valley, North Dakota but I told them that there are experts who can appraise the mineral rights and we don't have to hire a probate referee (A probate referee (attorney) provides an objective determination of value.) We live in Southern California and I feel we don't need to hire another attorney but can find a professional who does appraisals.
I guess what I need to find out is how we should proceed. Are there any inheritance taxes? (This is a trust, not a probated will) We had an appraisal done in 1981 when my grandfather passed away and my mom and her siblings inherited the mineral rights but nothing has been done since. My mother did sign with Petro-Hunt and I have not seen the contract she agreed to so I don't know when it expires or what kind of sign bonus she received.
Can someone tell me who we should use for the appraisal? Are there specialists in the Wibaux, Golden Valley counties who still do appraisals?
I know this is not very well put together, I'm still learning. But I want to do this the right way and have everything go as smoothly as possible.