Questions Answered by Jim Ed "Jed" Franklin

Q: Hello, my father passed intestate. My sister and I are only heirs. Colorado probate. Question about asset division.

1 Answer | Asked in Probate for Colorado on
Answered on Aug 21, 2018
Jim Ed "Jed" Franklin's answer
There is not a particular form that I am aware of to outline an agreement of a division of assets. What you need is a brief agreement with your sister about the property division. It would say how it was distributed, that you are both OK with that, and a release of claims against both of you.

Q: Dispute with HOA over our mineral rights.They are claim ownership rights.We say we own but give HOA POA.Who is correct.

1 Answer | Asked in Real Estate Law and Energy, Oil and Gas for Colorado on
Answered on Apr 4, 2018
Jim Ed "Jed" Franklin's answer
There is a lot to this question. The first is whether the lot owners were given the minerals to begin with. If so, then the question is whether this covenant applies to each lot. It probably does. Then, what does this covenant mean. This covenant allows the HOA to execute leases for each lot owner. This is probably to control development in the subdivision. What isn't clear is who gets the bonus for signing the lease and who gets the royalties. It would appear that the lot owners get...

Q: My mother died and I need to sell her house - does probate have to be finished before I can do this?

1 Answer | Asked in Probate for Colorado on
Answered on Jul 21, 2017
Jim Ed "Jed" Franklin's answer
Probate does not have to be finished in order to sell property of the deceased. However, the seller must have authority; this person is usually the personal representative/executor. The personal representative distributes property and pays off debt. If there is a debt on the house, like a mortgage, it must be satisfied either before the sale, or during the sale from the proceeds. You must also look at the will, if any, to see what authority the executor has to sell property. If there is no...

Q: what is/how to get: Letter of successor's interest

2 Answers | Asked in Real Estate Law and Probate for Colorado on
Answered on May 9, 2017
Jim Ed "Jed" Franklin's answer
What you want are Deeds, not a Deed of Trust. A Deed would be in the form of a quitclaim deed or warranty deed. This creates a "chain" of title that you can show the bank. A to B, B to C, C to D. If there are no deeds for the gift, then you are going to have a much tougher time and will definitely need an attorney. If their are deeds, then you should show the bank the chain of title. The deeds of trust won't get you there--you need conveyance documents like a Warranty Deed or Quitclaim...

Q: For informal probate, what documents are required to transfer real estate and savings accounts. Court order required?

2 Answers | Asked in Probate for Colorado on
Answered on Apr 11, 2017
Jim Ed "Jed" Franklin's answer
You should definitely engage a probate lawyer since there is real estate involved. Generally, real estate requires the Letters, which you have. You then distribute the property using a personal representative's deed in accordance with the will, or if no will, Colorado's intestacy laws. There are nuances to this, as the deed must be of a certain date after the Letters are issued; the deed must be very carefully drafted to protect you as PR; and if the real estate was held in joint tenancy...

Q: My wife inherited mineral rights along with her siblings to property owned by her parents.

1 Answer | Asked in Energy, Oil and Gas for North Dakota on
Answered on Apr 5, 2017
Jim Ed "Jed" Franklin's answer
It depends on what title you have to the mineral rights. Based on what you've written, you are probably co-tenants of an undivided interest in oil, gas, and other minerals. Assuming this, then no, you cannot stop the siblings from leasing, selling, or using their part of the interest. Each co-tenant has the right to develop the land if they want to. So, you may not want to, and you don't have to lease or sell or be any part of the operations, but your siblings might want to. You could...

Q: Is it possible for me to sell mineral rights to the land under my property but maintain the surface rights above ground?

2 Answers | Asked in Energy, Oil and Gas for Colorado on
Answered on Feb 13, 2017
Jim Ed "Jed" Franklin's answer
Yes, it is very common to sell the mineral rights under the land and keep the surface. However, as has been pointed out, the minerals take precedence over the surface. If an oil company wants to drill on your surface to access the buyer's minerals, they must reasonably accommodate your surface use, but you can't stop them from drilling. Nevertheless, oil companies usually execute a surface use agreement with the surface owner, but it is not required under the law. Importantly, you can put...

Q: Dad died 15 months ago in ND and step mom died this month. no children together. Next of kin is? Her mom is alive but 90

1 Answer | Asked in Estate Planning, Civil Litigation, Collections and Probate for North Dakota on
Answered on Feb 6, 2017
Jim Ed "Jed" Franklin's answer
Your question is missing some important information, feel free to contact me via email so I can better answer it. But generally, you should have some interest in your father's estate, though it sounds like there is not much in it. If so, then the "spousal share" may eat up all of the estate. The spousal share is what your stepmother gets from your dad's estate. Nevertheless, it is possible that you are entitled to what is in your father's estate. If your stepmother is the personal...

Q: My mom and dad owned farm land and my dad passed away August 4, 2015. During my dad's probate we had the land appraised.

1 Answer | Asked in Probate for North Dakota on
Answered on Feb 6, 2017
Jim Ed "Jed" Franklin's answer
The obligation of the personal representative of the estate is to determine the fair market value. There is no state requirement for an appraisal. I think that you can feel free to use the appraised value on September 9 to determine fair market value on September 15.

Q: How to transfer a gifted oil royalty from a deceased person with no will.

1 Answer | Asked in Energy, Oil and Gas and Probate for Texas on
Answered on Feb 3, 2017
Jim Ed "Jed" Franklin's answer
You need to consult a lawyer on this. It seems to be a very complex situation. Having said that, it appears that the estate needs to be probated, even though there is not a will. This is called "intestate succession". The laws of Texas will govern how the property is to be distributed, and it is different for community property than separate property. Once you go through this process, someone will be able to properly pass the property on under the law. Then you can show the oil company...

Q: What rights do I have as a royalty interest owner in Oklahoma if I haven't been paid my royalties in years?

1 Answer | Asked in Contracts and Energy, Oil and Gas for Oklahoma on
Answered on Feb 3, 2017
Jim Ed "Jed" Franklin's answer
You can sue anyone for anything. Winning is another matter. There are not enough facts to fully and faithfully answer your question. However, it does sound like you are entitled to the unpaid royalties, probably with interest. I would start with the current operator and ask them what is going on. It is unusual for a dispute among companies to affect the royalty owners. Normally, a title dispute is what suspends payment to royalty owners. Finally, you want to make an inquiry soon because...

Q: selling mineral rights, is it standard practice for seller to sign a contract and sign over the deed before being paid?

1 Answer | Asked in Energy, Oil and Gas, Contracts and Real Estate Law for Oklahoma on
Answered on Feb 3, 2017
Jim Ed "Jed" Franklin's answer
The buyer will want you to do it that way, but I always counsel my clients to not turn over the deed until payment is made. Usually I do this simultaneously. I've not had a problem in asking for and getting this concession, because otherwise it is too risky and not fair to the seller.

You mention a contract as well. You must be very careful in signing the contract because it may obligate you to sell while not obligating them to buy. There is usually a provision for checking title...

Q: I have a non compliant trustee my sister's will .what should be done

2 Answers | Asked in Energy, Oil and Gas, Estate Planning and Probate for Colorado on
Answered on Feb 3, 2017
Jim Ed "Jed" Franklin's answer
As noted, the answer depends on many undisclosed facts. You need to get the will and the trust and then consult with a lawyer. If you are a beneficiary of the trust, you should demand an accounting of all trust payments and income. You might also consider a suit for breach of fiduciary duty, depending on the facts. If the trustee is also a beneficiary, that can cause lots of problems that will take a lot of work to unwind. Finally, if the will was probated in Colorado but not Oklahoma, you...

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