My "Land Book"
I posted this in another discussion, and it was suggested that I put it on the main board.....
I have created a "Land Book." It is a 3-ring binder, with a separate section for each piece of land I own, no matter how tiny. The intended audience of this book is my heirs.
In each section, I begin by saying exactly what I own, and how I came to own it. I also include copies of the documents by which I came to own the land (cash deeds, judgement of possession, etc.). I go back up the chain of ownership, as far as I can go, so that if any questions arise in the future, my heirs are well-armed with as much information as possible. I include a map. I include names and contact information of any other owners, and the fraction each person owns.
Each section also contains copies of any contracts affecting the land - leases, division orders, ROW agreements, timber contracts. I also try to explain the main points of the leases, what my heirs need to check for (are they really getting those cost-free royalties?) , and a calculation of the fraction on the division order. It also contains a "heads up" about anything that will happen in the future, e.g., prescription, timber maturing, or leases expiring.
Finally, I include a CD with pdf copies of all these documents, so my heirs may all have a copy some day.
I find that every time a generation turns over, information is lost, and people end up not knowing what they own. I hope this doesn't happen when I pass my land along to my heirs.
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Replies to This Discussion
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Permalink Reply by Linda Whatley on
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You are so right Dion...... A landman called me recently needing information about the Pegues family, and I was able to point him in the right direction. He was very appreciative.
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Thanks Henry...... I did something similiar for my heirs, but not as detailed. Will have to take another look at my documents and do some updating.
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Permalink Reply by Ken Boone on
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This is what I am working on doing now. I must say that my eyes are getting tired of looking at court documents, but I know it has to be done. I think I am taking it a step farther and actually have the book binded, hardback. This is very helpful information. Thank You!
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Permalink Reply by Henry on
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I use the 3-ring binder because, over time, things change. Leases expire, owners change (in tracts with multiple owners), etc.
I'll leave my children a good undertanding of what I own. My parents were very good at record keeping. But they did three things that led to a lot of confusion when I went through their files. First, they never threw out anything, so it was often hard for me to tell what was the final version of a document - often there were 2 or three drafts of important documents, and they never pruned out the worthless ones. Second, they often dated their notes as "April 15," but did not put the year on the page. Finally, there were some notes in shorthand -- yes, shorthand!!! I doubt there is anyone left alive who can do shorthand.
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Permalink Reply by VSC DeSoto South on
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What a great idea Henry! Thank you.
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