Legal Question in Wills and Trusts in Mississippi
Probate
If you have a relative who has been deceased for 8 years and the property was not probated with in 5 years of a company buying out the oil proceeds of that propery, is there a statute of limitation on that family who is entitle to the money that was made on that propery?
2 Answers from Attorneys
Re: Probate
if the mineral rights belowed to your relative the proceeds from their sale belongs to the estate. the beneficiaries have right to collect the proceeds.
Re: Probate
I don't understand the question. You can and should probate the estate and collect the assets of the estate. If the estate is precluded from recovering a payment because of the applicable statute of limitations then it is precluded. If the money was paid elsewhere, the estate may be able to impose a constructive trust.
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