mineral rights

[ladyjenn]

Personally, I would take a shove with you to your 341 meeting and if the trustee wants to take your "mineral rights" I would hand them the shovel and say have fun.

LOL....that was funny. I needed that. Thanks!!
We have to send the info to our atty yet and see what he says. We don't make anything on it, nor will we in the "6 month look forward", but I am scared they will consider it as an asset and make us sell our share for a certain $$ amount.

[GettingGoing]

We own 1/8 share of mineral rights on our cabin property. The land is not drilled on nor do we receive any royalties from anyhting. We paid $5K for them. Does anyone know how this works with BK7? We will have to sell our share or could it get converted to CH 13 as it may be considered an asset?
Thanks in advance

Personally, I would take a shove with you to your 341 meeting and if the trustee wants to take your "mineral rights" I would hand them the shovel and say have fun.

[ladyjenn]

We own 1/8 share of mineral rights on our cabin property. The land is not drilled on nor do we receive any royalties from anyhting. We paid $5K for them. Does anyone know how this works with BK7? We will have to sell our share or could it get converted to CH 13 as it may be considered an asset?
Thanks in advance