Property Tax Credit

[db-2]

Dad said at the time he would never burn or drain. By the next year he was in trouble. db

 

[Allen]

Kind of like the wetland easements that were sold in the past. Seller got a little money for a perpetual easment that is a PIA for future generations.

I saw a number of the wetland easements a few years back when I was looking at buying some land in the Prairie Pothole Region. Seems to me a lot of the easements were for roughly 1/2 the market price of the land. Pretty good deal for the landowner that signed the easement, not so good for someone coming in afterwards that failed to take 1/2 off of the current price for non-easement restricted acreage.

 

[Fritz the Cat]

Kind of like the wetland easements that were sold in the past. Seller got a little money for a perpetual easment that is a PIA for future generations.

The US Fish and Wildlife Service is the only agency that can obtain and hold a perpetual easement. Back in the sixties farmers sold like two acres. Round circles were drawn on a map. It wasn't exactly delineated and that was where the trouble started.

During high rainfall years wetlands grew and so did the easement. When they retracted it was sometimes in a little different spot. The USFWS would curtail progress on the whole 160 acres or quarter section where the easement was.

Perpetual easements are forever.

States are making it easy to get an income tax credit for donating an easement on their land.

https://stateline.org/2022/04/26/pr...xt-battleground-in-state-conservation-policy/

 

[eyexer]

So, when Uncle Joe die, and he left all to me including his mineral rights it is well documented at the courthouse that i own those mineral rights under my name that i never knew he owned?

And when i die and by a will leave those rights to my kids it will again be well documented they own the mineral rights? The clerk wrote that under that land off my will or his will? db

Yes. Mineral owners are documented exactly like the land is. I can tell you who owns the minerals under my land simply by looking at the abstract. If you abstract isn’t up to date the abstract companies can get that data from the county. When you die, any real property you owned and transferred upon death is added to the county records.

 

[db-2]

Is mineral rights real property then and transfer upon one's death? db

 

[eyexer]

Is mineral rights real property then and transfer upon one's death? db

Yes. It’s tracked the exact same way also.

 

[espringers]

Only if it's properly transfered and recorded on death by whoever handled the estate. You really need to look into this DB. It's not as simple as a will existing. And many a people/attorney/executor have failed to do things correctly. If it was never properly transfered and recorded, that's a big problem.

 

[db-2]

Yes, i have dealt with this in my profession life and in my dealing with it seldom gets recorded therefor the mess. I have seen mineral rights, which are not real property, have little consideration by those who inherit them. Most have no idea how this works and a lot of estates are settled without an attorney being involve or at least not involve with mineral rights.

However.

My concern was government entities owning mineral rights as they felt they deserve them for some reason to benefit them and not the citizens. Why did FLB keep 50% back in those days. Maybe the loan was not paid in full, so they felt the right to keep for their value someday. It's getting close to 100 years now and FLB went broke during this time and was bail out by FDIC funds. So, what do they plan to do with those rights?

Some never fought it as their only concern was surface rights for farming/ranching with little thought about worthless mineral rights at that time to them. db

 

[Allen]

db,

I generally do not give one shiite if others have properly transferred their mineral rights to their heirs as it doesn't impact me, I do care though that it takes place properly in my family. You are bouncing around between personal and philosophical interests on this topic. I would really recommend you focus on what it means to you and your family.

Fighting more than one battle at a time has always been a bad idea.

 

[Allen]

p.s. taking the position that mineral rights are not real property is a bad start. They have been considered "real" property for well over a century now, not something I'd personally care to try and change at this stage of the game.

 

[db-2]

good grief:
whip me with a dull whip.

And i thought for now my only problem was the
damn insp channel is not working on my tv. There goes a few shows of Gunsmoke i will not get back.
Just one battle after another when one gets old. Thanks for the advice and getting me on the right tract.
Need to look into that 9/95 plan next. db-2

 

[espringers]

what allen is getting at is that you seemed to have no clue if your interest in the inherited land and/or mineral interest was properly recorded. maybe we are misunderstanding that. but, if you aren't sure, you should make sure because you shouldn't take for granted that it is/was.

 

[db-2]

The courthouse in the recorder's office will look in the real estate files to tell what has been recorded. No big deal to find out and if you want, get an attorney to do an attorney's opinion. Have done that myself in my job many of times and have had attorneys do it for me also. No big deal to find out, simple matter. And yes, there maybe something out there that means nothing until it gets on record.

Now i have never check on my small plot of land in town but a quick look at my updated abstract will tell me. Same with the small acreage i may own in the country.
So, for no misunderstanding i do have a clue and i have had formal training on reading abstracts. db

 

[db-2]

One can find some interesting stories about your land from the day the land was patent to today when reading your abstract. Most will show the tuff life of the thirties. db

 

[db-2]

Thanks Allen i was just beginning to treat this thread as i treat camper's comments. Life to short. Made our first scout trip for sheds up north. Been going 500 miles north but a fire in the forest and picking not so good these last two years. Scouted an area in mid Sask. Came back with a 2/3 of a PU load of older sheds. One nice mule deer and will post tonight if i can. Cattle country and for whatever reason a rancher running 800 head has given us permission to walk his land. A bunch of land. Just needed to treat them right for that favor. Prairie land and some badlands. Excited for April. db

 

[Allen]

800 head means you will certainly get your exercise cleaning up the tire hazards!

 

[db-2]

nothing there to compare it to but it is decent. Had a couple with drop tangs for better discussion but this one would score the best net. Looking forward and feel good that he is letting us on when he said we would be the first he has let on. db

 

[eyexer]

Thanks Allen i was just beginning to treat this thread as i treat camper's comments. Life to short. Made our first scout trip for sheds up north. Been going 500 miles north but a fire in the forest and picking not so good these last two years. Scouted an area in mid Sask. Came back with a 2/3 of a PU load of older sheds. One nice mule deer and will post tonight if i can. Cattle country and for whatever reason a rancher running 800 head has given us permission to walk his land. A bunch of land. Just needed to treat them right for that favor. Prairie land and some badlands. Excited for April. db

I’m surprised you can bring sheds back down here

 

[db-2]

There is a process including a permit from Federal Game and Fish in Denver. Sask. fine but even then, no in Manitoba. Without the permit one can bring across but limited number. db

 

[Skeeter]

How do you know if you get the credit! Who determines if you get the credit! When I signed up the only notification I got was to say that it was received. Why not just give all home owners/landowners a $500 credit and be done? Our state government is just as retarded and the feds in Washington.