Replies to This Discussion

Permalink Reply by Muddigger on February 21, 2009 at 9:29

I'll give you $15000 cash for land and minerals for fun, if that helps

Permalink Reply by Kaufman on February 21, 2009 at 9:30

Check out recent Caddo Parish forced sales. This Play has infected family dynamics. Deaths happen often and plenty of families cannot agree on a sale post succession. One upset party can refuse to sign off on her forced portion (1/8th) and the 5 acre tract goes to a forced sale. This might happen to your estate. It is only worth what one can get for it. The reality is prices are low. You will be shocked to find out what land is going for now in forced situations. This is reality.

Permalink Reply by Bobi Carr ("parker") on February 21, 2009 at 9:47

VSC "O",

It's a lot more fun to put those acres in a royalty calculator.

Permalink Reply by VSC DeSoto South on February 21, 2009 at 11:51

Yes, very familiar with the Royalty Calculators. They are fun too.

Permalink Reply by SL on February 21, 2009 at 14:40

I have looked at the royalty calculators but I don't know what numbers to use. I know how many acres, and it is a 640 acre unit, but not sure on the other numbers. I used 2 different calculators and came up with 2 completely different numbers.

Permalink Reply by VSC DeSoto South on February 21, 2009 at 11:55

Yeah that's something I have thought about off and on.
So how much does it cost to partition land? I own 1/3 of 40 acres. Of the 1/3 I own half with a neice.
I guess i would have to partition, the 1/3 then partition the 1/2 of the 1/3? Sound very expensive.
The other 2/3 's is owned by very distant relatives, not sure what would happen if there was some reason to force sell. I don't think that could happen though, because each lease is signed by the respective 1/3's families, heirs.
I guess there could only be a forced sale for my 1/3 if i or my neice did something that triggered such.
How many others own with lots of relatives, and have you partitioned,, how did it go and how much was it?

Permalink Reply by BirdDawg, plain ole' idiot on February 21, 2009 at 12:07

VSC"O",
In Louisiana you can not be forced to own land in indivision with anyone. Any owner, regardless of how small their ownership, can force a sheriffs sale. Then you can open the can of worms regarding a family fall out. But that is the way it is.
You can option for a partition in kind or a partition by licitation.

Permalink Reply by Kaufman on February 21, 2009 at 17:33

Exactly. It will all go in that situation. One upset party can force a sell on the land and minerals. No one family member can hold short of bidding at the sale with everyone else. These next few years are dicey. If the deflationary times hold one must placate all holders of interest or be prepared to bid at auction. The same will hold with better times though most will not want to queer a deal if future royalties are involved. BD, this means we all must get along.

Permalink Reply by BirdDawg, plain ole' idiot on February 21, 2009 at 11:22

VSC"O",
Personaly I value things that I am going to buy at what I think (in my mind) they are really worth. Not just what the current market is. Don't let all the naysayers make you think your shale (or your land) isn't worth anything. It dang sure has good value. But a lot of people would try to steal it from you.

Permalink Reply by Cathaus on February 21, 2009 at 11:30

VSC"O",
I can't speak for you but my little piece of ground is priceless to me. Mr. Cathaus and I have worked hard to acquire it. We feel fortunate and greatful to have it because there are many people in this world that can only lay claim to the dirt that is stuck to the bottom of their shoes.
The thing about land...................they don't make it anymore unless you live in Saudi Arabia where money is no object and labor is readily available.

Permalink Reply by BirdDawg, plain ole' idiot on February 21, 2009 at 11:38

Cat,
And they can just pump some more sand up and make some more land. But who would want it?

Permalink Reply by Snake Stewart on February 21, 2009 at 11:52

Cathaus,
Have you been watching National Geographic again ?
I am impressed with your mention of the creation of land, outside of volcanos of course , being the Palm Islands in Dubai. Being that I am a future Gas Magnate myself, I am considering building Snake Island on beautiful Lake Bistenau. Big problem is, we already have a Snake Island (no relation) on the lake so I will of course have to...."aquire" said property from the State before I can begin my master plan to take over the world, get the hotels built and the Casinos up and running. It will be the biggest thing since sliced bread , the wheel ,HDTV, ...........it will be cool!

http://earthobservatory.nasa.gov/IOTD/view.php?id=7040

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