Replies to This Discussion

Permalink Reply by RBH on March 21, 2010 at 17:17

if her Mom gifted to them..she probably does not own anything

1. Name & EIN The Bone Hill Foundation (756279006) -- Google
2. Street 4000 S Medford Dr
3. Location Lufkin, TX 75901
4. County Angelina County, TX
5. Ruling date
( Approximate year when founded.*) 1992
6. IRS type 501(c)(3) - Private foundation
7. Legal basis for public charity or private foundation status (FNDNCD) 04 - Private nonoperating foundation
8. NTEE T20 - Private Grantmaking Foundations
9. Most recently completed fiscal year (TAXPER) 12/2007
10. Total revenue $331,286
11. Total assets $3,884,549

2008 tax return:
http://dynamodata.fdncenter.org/990pf_pdf_archive/756/756279006/756...

landownerPermalink Reply by Cindy Lou on March 21, 2010 at 17:32

NO my mother did not gift anything to the BHF. and it was set up june 15 1967 NOT 1992
My great grandfather W.A. Bridges set up the bonehill Foundation.

landownerPermalink Reply by Cindy Lou on March 21, 2010 at 17:29

YES i do need a good lawyer lol. Just the Millie white survey is tied up in the foundation, all the others are not..

Permalink Reply by Adam on March 22, 2010 at 2:19

Book 399 Page 243 is the amendment that sets the Bone Hill lease to expire in 2047. It was originally a 10 year lease in 1961.

I did not check descriptions in the original lease so your property may or may not be in there.

Permalink Reply by RBH on March 22, 2010 at 2:49

Get a good oil and gas attorney to run title and check on your leases

landownerPermalink Reply by TexasNurse on March 21, 2010 at 19:23

How much is a title check and who can perform this?

Oil & Gas ProPermalink Reply by Austin Eudaly on March 22, 2010 at 16:44

TexasNurse,

A title check that is performed by an attorney can get a little pricey, but depending on what you are needing it for can be very worth it.

I would say that the prices could range between $500 all the way up to $2500 depending on how tough the title is. Usually attorneys and landmen charge a per diem rate for this type of work. This can range between $250-$550 p/ day depending on experience level.

Generally, on a mineral title check 3-5 days in the courthouse is standard to do a thorough report.

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