What to Ask for Before Signing
My question involves real estate located in the State of: West Virginia.
My aunt wants me to sign a quitclaim deed on "my share" of 88 acres of land. The land is currently in a trust from my late grandparents to their 4 (now adult) children. One of those children, my father, passed away a few years ago and apparently on his deathbed promised my aunt his share of the land. Since he died with no will, his "share" automatically gets passed to his next of kin - me.
My father abandoned my mother & I when I was a small child, and pretty much ran from the child support collectors & my mom never got a dime.
I'm wanting to know what I should ask for, be it an appraisal or something and then some cash, in order for me to sign the quitclaim because I really have no desire to give anything to my father's sister who I've met once when I was 4 and if the land is worth anything to her, then I'd like to give that $ to my mother.
Thanks in advance!!!
Re: What to Ask for Before Signing
If you have all the details of the land you can check the value of it on this site;
http://www.zillow.com/
Re: What to Ask for Before Signing
I would want a copy of the subdivision survey in hand before I made a decision. What county are you in? Does the land include mineral rights to coal, oil and gas? 22 acres is a decent amount of land. Depending on the county and topography, surface rights alone may be worth 1000-20000 per acre. Are there wells on the property, you may also be entitled to royalties.
I would not sign before having a survey done.