Waggoner Ranch residents getting booted

[Avezorak]

Sad situation for the folks having to move, but I gotta side with the landowner. Anyone who builds on leased land has to know that its not forever.


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[bphillips]

and there is something wrong with that? Would you if you had the chance?

I sure would. If I spent that kind of money it wouldn't be just to have that huge of a ranch but to make more money turning parts of it. Investments are just that. That place would mean $ to me and that's it

[Chad C]

What lender in their right mind would lend money to a fella so he could buy/build a permanent structure on someone else's property? Not many, I'd wager.

I'd like to know!


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[TKK]

Nah, but there's an attitude that ending these leases is a black eye on the ranch's legacy.

Just wait for the next thread when there are sections being sold off.

as bad as it hurts the legacy was gone the day the ranch sold - I do not like it but that is the real world pure and simple

[Plain Lucky]

What lender in their right mind would lend money to a fella so he could buy/build a permanent structure on someone else's property? Not many, I'd wager.

Believe it or not, it happens and isn't as uncommon as you would think. Lenders in areas where such long term lease situations exist eventually get comfortable enough with the arrangement to make a loan on it. The loan opportunities typically represent too large of a portion of the local market for the lenders to turn down. AND the powers that be within the bank are often well connected with the landowner, which often provides additional insight as to the solidarity of the lease.

[Planner]

[QUOTE=Horitexan;11576981]It deeply saddens me that this is happening. This is one more example of spoiled brats neglecting and destroying a legacy that they inherited while sitting on their fat *****e$ and didn't deserve. And then selling it to a guy like Kroenke - a guy who is as selfish as it gets! Yet another example of greed exceeding honor and a dark blot on Texas tradition.

Everyone involved in this deal should be ashamed! My grandad, who was the GM for many years, and my dad who was raised on the ranch must be rolling in their graves; along with Paul, Guy & Electra Waggoner who created this arrangement.

This is such a tiny portion of the property that it's tantamount to most ranches having a tortoise living in a hundred foot pen not being willing to leave it alone. At the very least, the families should have been given a lease (by one of the parties) that ends when the last member of each family, that's currently living there, passes away. Comparing this to a hunting lease or somebody you know's ranch is ridiculous - you could fit every lease and every ranch on this forum inside the Waggoner and still have a gigantic ranch. It would have had ZERO effect on Kroenke (as it had on the Waggoners for the past 90+) to make a fair arrangement for these people. Those who say that these people were stupid to build there have obviously never had experience with these giant ranches - it was (and still is) a very common practice for these big ranches to do this for workers' families. The sad fact is that you can't trust your kids or grandkids to uphold your promises or the values that built the legacy they get handed! The King and many other ranches do the same thing. These people got jacked by some rich people for no valid reason. I'm so sick of people justifying bad behavior because "it's legal!" Just because something is legal doesn't always make it right! This is one of those situations good people who built and maintained that ranch were backhanded by the law.






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If they cared as much as you say, they would have taken steps to keep this from happening. Since they didn't, it's unfair to assume they cared as much as you think and to blame someone who wasn't involved in the decisions they made. You are obviously emotionally connected and that's understandable, but this was all preventable by the previous owner. I wish everyone involved the best and applaud the new owner for making what appears to be a very gracious extension to make arrangements.


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[Chad C]

Waggoner Ranch residents getting booted

It's called A leasehold mortgage and is typically controlled by the lease and would have to be permitted under said lease and also likely require consent from the landlord. That's all on the Estate of the grantor.

Talk about greed, there're countless articles about the family feuds,.

http://www.texasmonthly.com/articles/showdown-at-waggoner-ranch/

The above is from 2004....

This was a long time coming!



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[wtx223]

Who wants to bet on how long before he starts selling off parts of the ranch?

I doubt he just wants a private ranch. He bought it seeing that there's money to be made.

He already owns a ranch that is bigger than Waggoneer I believe.
These billionaires have to put their money somewhere, can't beat land.
I bet he buys surrounding ranches, not selling parts of this one.

[coop]

Thanks for the article. For those of us not as well informed about the Waggoner Ranch it is very informative.

[fishingsetx]

It's called A leasehold mortgage and is typically controlled by the lease and would have to be permitted under said lease and also likely require consent from the landlord. That's all on the Estate of the grantor.

Talk about greed, there're countless articles about the family feuds,.

http://www.texasmonthly.com/articles/showdown-at-waggoner-ranch/

The above is from 2004....

This was a long time coming!



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great article!

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[jetlag887]

Sad deal all the way around.

[WCB]

Kinda reminds me of Jerry Jones/Cowboys/Tom Landry...

To the winner goes the spoils.

[clintb]

Never trust the ( it will never be sold ) crap. Everything has a price when you are dealing with different generations of ownership. Just because grand parents and parents didn't want to sale, doesn't mean the grandkids won't. It always amazes me at the folks who will build whatever on land that is not theirs. It will never be theirs and they know it but build on it anyway because some old timer tells them he will never sale or that the land will never sale. Then said old timer dies and land is left to his grandkids. His grandkids have no desire for the land and boom. It's up for sale and sold. Now get all that you permanently built through the years off my land in 30 days or loose it. Now the butt hurt poor me starts. Moral is. Never build permanent on land that is not owned by you because no matter what one may say. Everything has a price when dealing with property.

[SniperRAB]

You can't change reality over a bleeding heart. They knew what they were getting into. The new owner didn't make a bad decision the renters did.

Yepper...
They had to see it coming at one point.

[BrokenJ]

It deeply saddens me that this is happening. This is one more example of spoiled brats neglecting and destroying a legacy that they inherited while sitting on their fat *****e$ and didn't deserve. And then selling it to a guy like Kroenke - a guy who is as selfish as it gets! Yet another example of greed exceeding honor and a dark blot on Texas tradition.

Everyone involved in this deal should be ashamed! My grandad, who was the GM for many years, and my dad who was raised on the ranch must be rolling in their graves; along with Paul, Guy & Electra Waggoner who created this arrangement.

This is such a tiny portion of the property that it's tantamount to most ranches having a tortoise living in a hundred foot pen not being willing to leave it alone. At the very least, the families should have been given a lease (by one of the parties) that ends when the last member of each family, that's currently living there, passes away. Comparing this to a hunting lease or somebody you know's ranch is ridiculous - you could fit every lease and every ranch on this forum inside the Waggoner and still have a gigantic ranch. It would have had ZERO effect on Kroenke (as it had on the Waggoners for the past 90+) to make a fair arrangement for these people. Those who say that these people were stupid to build there have obviously never had experience with these giant ranches - it was (and still is) a very common practice for these big ranches to do this for workers' families. The sad fact is that you can't trust your kids or grandkids to uphold your promises or the values that built the legacy they get handed! The King and many other ranches do the same thing. These people got jacked by some rich people for no valid reason. I'm so sick of people justifying bad behavior because "it's legal!" Just because something is legal doesn't always make it right! This is one of those situations good people who built and maintained that ranch were backhanded by the law.





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Are you say the king takes care of the employees? The second you quit or retire no matter years of service they are kicked off the ranch. Bunch of old men still working just to keep their homes.