Does anyone know someone who could do a mineral valuation as of January 2, 1996 for a mineral interest in Township 1 North, Range 57 West, Section 14: W/2, Morgan County. I also need a valuation for some minerals in Jackson County, Colorado as of the same date.
If you inherited these holdings a new appraisal may not be required. First check the probate records in the county of the deceased since if the estate was probated, an inventory and or final accounting may have been placed of record. Secondly check the records of both counties to ensure they hold the same documents.
There is a group called the International Institute of Mineral Appraisers (IIMA). Someone there could likely help you. Plus, there are a few people in the Mineral Services Directory that could also help. I would definitely check with a lawyer or accountant about why you might need the valuation.
If it is for IRS purposes, I would highly suggest using someone with experience even if it costs a little more.
Hope this helps!
You can also go to the NARO COLORADO chapter. I seem to remember one of the officers is a professional mineral appraiser. www.naro-us.org
Thanks for your replies. I will contact the suggested NARO and IIMA organizations. We need a retroactive appraisal because an appraisal wasn’t done at the date of death and we want to establish a basis as we are planning on selling the minerals.
Yes, that is the correct type of appraisal.
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