Heir-ship split

My Grandmother had a 1/9 share on 273 acres and it was passed down to 9 of us evenly. The lease states that we have a  .54897 acre each. Now how would they come up with that number?

Views: 640

▶ Reply to This

Replies to This Discussion

Permalink Reply by Bob Shaw on July 2, 2016 at 3:53am

Not sure:

273 acres / 9 (grandmothers portion) = 30.33333 acres for Grandmother

30.33333 acres / 9 (grand children) = 3.37037 acres for each Grandchild

Permalink Reply by Nancy Mosley on July 2, 2016 at 3:57am

Is there something more to this? Is it clear that grandmother had 1/9, or just 1/9 of her parent's share?

Permalink Reply by Barry D on July 2, 2016 at 4:21am

Nancy,

This is a great point.

I worked with a friend to determine their ownership interest in mineral rights. It turned out that they owned 1/9th of 1/6th.

Permalink Reply by Nancy Mosley on July 2, 2016 at 4:27am

Yes, all sorts of interesting things can happen...

Permalink Reply by Barry D on July 2, 2016 at 4:06am

My assumption -

The 1/9th first passed to her children,your parent, aunts, uncles. Depending on how many of them there are/were would account for a dilution of the 1/9th interest resulting in you ,54897 acre share.

Permalink Reply by paleface on July 2, 2016 at 6:40am

I get 2.2113 acre's per child?

Permalink Reply by brian richards on July 2, 2016 at 6:59am

i do too paleface...i am going to have to dig deeper...or they use some kind of weird formula

Permalink Reply by Barry D on July 2, 2016 at 11:12am

brian,

Are you sure that the 1/9th owned by your grandmother was 1/9th of 100% of the 273 acres? In other words 30.3333 acres ?

You state that the 1/9th was passed to 9 of you evenly, who are the 9? Does this include her children and grandchildren?

How was the interest conveyed to the 9. will etc.?

Permalink Reply by brian richards on July 2, 2016 at 3:51pm

I found the answer I think. My sister had a copy of the descendant report . Generation one: My great great grandfather had 5 kids.My great grandfather had 9 kids. My grandfathers split to us 9 ways. 

Permalink Reply by Barry D on July 2, 2016 at 4:18pm

Usually the due diligence people at these companies are quite thorough,

From what you just posted I think you see how the company came to it's percentage.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service