Hello we are in the process of probate to transfer my husbands moms deeds (22 deeds in OK) into his name. She passed away a year ago so the process has been long as her estate in TX had to finish probate first. She kept excellent records and most appear to have current leases and we have checks that need to be reissued etc so we will be in contact with leasing companies after probate is finished.
I have been reading a lot as this business is very new to us, but my initial question is she had a thick file for every tract, saved every single thing, even old deeds (these tracts were transferred to her), old leases, emails, letters, copies of checks. Very organized in two large boxes. Some of these records are quite ancient. As we are trying to figure everything out, these records are great in a sense as she was very smart in her dealings so we can learn from her records, but what all do we need to keep? I am thinking very old information (like pre-computers lol) and old deeds can be discarded after we get the new deeds?
How would I know if a lease in a file has expired? I am assuming only one leasing company would be in effect for any tract owned is that correct? Assuming they lease the entire thing?
Any advice would be appreciated. Thank you!