I need advice on Garvin county section 36 1n 2w. He question I have is red sky is wanting to take the 2 yr extension offer in contract made with my mother. She passed away oct 3 2018. The will is in the process of being probated. The want us to set up a trust so they can pay us. Does the contract have to be honored and has anyone else set up a trust just for a certain royalty?
J.C.- that really doesn’t make any sense. Your mother’s SS number is still valid until the estate is closed. Had there been a Trust already, then her SS number would have been replaced with a Trust tax id number.
Ask Red Sky to make the extension check to the Estate of … and you should be able to deposit it in her account.
Someone with more information than I have may be able to give you a better answer.
Thanks for the information. It was not set up in a trust. Only the house was in a trust. The other parties signed the house to us. The royalties were in the will don’t know if that makes any difference.
An attorney can answer that question better. How the will is worded may determine what you should do. You may not have to set up a trust if the will says the minerals go to particular people. In the meantime, Continental is leasing that section like crazy. When was your mother’s lease term up for the first three years? They can usually pay the bonus to the Estate of the Person while the probate is being settle.
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