My husband passe away three months ago. The will attorney here in S.C. said the interests must be appraised for the estate (it is a life estate owned by my husband and myself and then the children as remaindermen, but my lawyer said they (children) actually own it now. He also said that it would take years for the appraisal to be completed. The interests are in Williams, Burke, Dunn, and Mckenzie Co.'s in North Dakota. Can anyone recommend someone or some company that could appraise these interests and not have the cost be prohibitive? Thank you for any help you can give me.
I would use appraisal from who-ever holds Your Lease or is drilling on the Land or there is always Investers sending out low ball buy-out's if You want a low $???
Thank you, Mr. Melby. I need to have the appraisal done for the estate. My attorney thinks it will take years and years, but we live in South Carolina and, I can assure you, the attorneys here are not that knowledgeable about gas/oil. I will contact some of the leasing companies. That's a great idea. Thank you, again.
Shirley:
Appraising minerals is a diffucult task due to the variations of so many factors involved. How much production is predicted (unknown), length of time the lease will produce (unknown), etc. You are attempting to place a value on the unknown so one must rely on predictions. In my notes, I found an individual who has appraised minerals in the past, not for me but for someone else. His name is Richard Broschat (Broschat Engineering & Management) located in Williston, ND. The phone # is (701) 572-8075. Keep in mind, appraisals aren't cheap so make sure that the appraiser addresses any specific matters in your case. Good luck.