26th Aug 2015
As promised in my last post, below are a few concrete examples of owning property in multiple states that I commonly see:
1. Person A grew up on a farm in the Oklahoma Panhandle. Their parents owned real property near Guymon in Texas County, Oklahoma which they used to grow crops. Person A moved away to go to college and eventually start a career and family outside of Oklahoma, say in Dallas. When Person A’s mom and dad died, the land passed to them through their parents’ estates. They rented the land to a local farmer through the years. When Person A died, they owned property in their home state (house, accounts, etc.) but also in Oklahoma (farm and ranch land passed down from parents).
2. Person B bought a ranch in Cimarron County, Oklahoma near Boise City where they raised cattle and other livestock. Over the years, they enjoyed getting away to the mountains of New Mexico or Colorado. Eventually they bought a cabin / second home in one of those states. When Person B died they owned real property (ranch land) in their home state of Oklahoma but also in the other state (cabin / second home).
3. Person C grew up in California and never even stepped foot in Oklahoma. But several generations ago, Person C’s family was from Beaver County, Oklahoma, and mineral interests in certain oil and gas properties from that area have passed down through the family for years. When Person C’s parents passed away, these mineral interests passed to them. When Person C died, they owned property in their home state (an apartment complex they bought as an investment) but also in Oklahoma (mineral interests in the oil, gas, and other minerals under certain lands).
In each of these examples, an ancillary probate may be necessary. Or at least some type of procedure may be necessary in both Oklahoma and the other states involved.
If our office may be of assistance to you in these areas, do not hesitate to contact us at (580) 338-6503 or at firstname.lastname@example.org or using any of our contact information in the profile. You can also visit www.fieldandhicks.com for more information.
This blog contains general information and the opinions of the author – not legal advice; you should seek the advice of competent counsel (attorney/lawyer) when considering any legal issues.