mineral rights

[tigergem]

Hey ladyjenn. The bankruptcy court is divided into districts, and each district can cover a lot of territory. Some districts only have one trustee, some have more. I'm pretty sure we only have one here, and his office is 200 miles away from the courthouse. I'm still trying to figure that out.

[ladyjenn]

We don't know, but our lawyer said the guy that does the trial, is a good guy. New and young. There was an older man doing them, and the Atty said he wasn't so nice. I guess maybe we only have one Trustee in our little town for the Atty to know???

[ladyjenn]

So I looked thourgh the fine paper work of the mineral rights. The cabin,
(8 members/interests) get $1535.00 per year, to split until 2013, when the lease expires....
I think that won't be too much of an issue.

[ecsclb1724]

how do they know what trustee they'll get before they file...???

[ladyjenn]

I am glad she was nice! I am hoping our Trustee is as nice as our Atty says too!

[tigergem]

SHE was very nice to work with.

Wow. They didn't notice that "great guy" "best friend" was female?

[GettingGoing]

And was he a decent guy???? Fingers crossed for YOU!

SHE was very nice to work with.

[ladyjenn]

Its funny but before I decided to file pro se I met with a few attorneys and all of them claimed the trustees in my district were "great guys" and "best friends" with said attorney.

And was he a decent guy???? Fingers crossed for YOU!

[GettingGoing]

Very interesting. Our Atty actually said the Trustee that we will be working with is a pretty good guy, so here is to hoping! Thank you guys so much for at least giving me a glimmer of hope!


There is also clauses in both cabin and MR stating that the cabin gets first chance to buy the share back...not sure how that will factor in, or if it even will.

Its funny but before I decided to file pro se I met with a few attorneys and all of them claimed the trustees in my district were "great guys" and "best friends" with said attorney.

[ladyjenn]

Very interesting. Our Atty actually said the Trustee that we will be working with is a pretty good guy, so here is to hoping! Thank you guys so much for at least giving me a glimmer of hope!


There is also clauses in both cabin and MR stating that the cabin gets first chance to buy the share back...not sure how that will factor in, or if it even will.

[music12]

an asset may be abandoned by the trustee if it's too much of a headache to turn the asset into money. it's the trustee's decision (unless you can cover it with exemptions in which case the trustee can't take it)

[GettingGoing]

I see! And he should darn it! LOL Is it possible that it could slide through and we could keep it, if he thinks there is no money to be made on it?

Yes thats possible. Your attorney will know much better than anyone on these boards how the trustees in your district handle things like this.

[ladyjenn]

I see! And he should darn it! LOL Is it possible that it could slide through and we could keep it, if he thinks there is no money to be made on it?

[GettingGoing]

It is ultimately up to the Trustee, not the atty?

Yes it will be up to the trustee. If there is no way to exempt it ans the trustee thinks they can make money on it to pay towards your creditors then they may take it. Its your attorneys job to figure out a way to protect it.

[ladyjenn]

It is ultimately up to the Trustee, not the atty?