I am the executor for my dad’s estate, which holds a tiny fractional royalty interest in Reno County, KS. I have transferred the holding to his estate, and have tried to sell it. It’s not worth very much, and am running into a brick wall. I plan to close the estate and it’s bank account in the next six months. What happens if I stop cashing the checks and don’t pay taxes? How do I legally abandon the royalty interest in the name of the estate?
In Kansas, the minerals are taxed. So, if you quit paying the property tax, it will, essentially, go to the county. If you don’t cash the royalty checks, the money will go to unclaimed property. I would suggest you contact the surface owner and ask him to buy it for a nominal amount or just deed it to them. They would probably want it. Alternatively, contact a charity, such as the University of Kansas or Kansas State and donate it to them.