In the earlier threads, there was a link to the county tax assessor's office where NS's 5 land lots were all in Amanda's name after his death (I presume he willed them to her upon his death). Just on the tax assessor value alone, it amounted to close to a half a million. ...
BBM & S...BM
ETA:
After backtracking to jrb0124 post #470 on the first thread,
I found the list of real properties that
Amanda owned in 2001 and
the values stated by the Burnet County TX assessor.
I'm seeing 5 properties there, (rounded) $255,000, and $5M, $7m, $7M, AND $8M, totaling
$282,000 in 2001.
My point below, made in long drawn out way, was that there may have been
mortgages or liens against them,
so that in 2001 the value of what Amanda's properties received in probate
may have been substantially less than that
assessed value or fair market value of the properties.
Of course, as jrb 0124 pointed out -- that list covers only property in Burnet Co. records showing Amanda as owner.
Conceivably she may have (now or in the past) 1, 5, 10, or 100 properties in places other than Burnet Co.
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Inheritance
Did anyone here post
link to $ listed in probate ct filings of Amanda's late husband? If so I missed it. If not ...
Just speaking in generalities here, since I do not recall specifics in old thread and do not know
how officials in that state assess land value for real estate taxes there. To make this easy, let's say, that state law law requires the county assessor statement to show fair market value and
that's what the other older post referred to; there were 5 lots w FMV of $100,000 ea, so
$500,000. Okay?
But were there encumbrances on the properties--
liens, mortgages, etc?
If so, it's possible the
value of what Amanda received was a
fraction of that.
Possible that each lot had a lien against it securing a $90,000 loan.
If so, Amanda w/h/rcvd 5 lots worth about $10,000 ea, or
$50,000 in R/E.
Possible the loan amt's were higher or lower than the FMV. Just speculation on my part (Oh, now I'm a land speculator!)
It's also poss. that the $100,000/lot was an
assessment figure used based on the state law's formula
of say
33% of FMV, which is the formula in
some states. If so, those properties could have been worth
$1,500,000, which Amanda w/h/recvd.
But they might have been subject to liens or mortgages.
Does anybody recall which
year the assessor's website showed ~$100,000/lot? Does the tax roll there show
Amanda as current owner?
If someone can
post link to probate ct filings w. $ figures distributed from NS's estate to Amanda (and other legatees?),
then it would clear this up. :fence:-- about the estate value & inheritance (not on the fence about Grant or Amanda).