Full question:
My grandfather was a musician here in New Orleans. His only child, my mother, is dead. There are four sons left who now receive royalty rights; which isn't much, about every 5 years. My brother is now asking us to sign over our royalty rights to him because he's been talking with another company in New York that its going to benefit us all in the end. They are talking big money because this company has been using my grandfathers music since the 80's and now have to pay out. What should I do? If I sign over my rights as he requested does he still have to split the money in four ways evenly? Can you refer me to a local lawyer that can handle this case?
- Category: Contracts
- Subcategory: Assignments
- Date:
- State: Louisiana
Answer:
The answer will be governed by contract law principles. Assignment in legal terms means the transfer of a property right or title to some particular person under an agreement, usually in writing. Unless an assignment is qualified in some way, it is generally considered to be a transfer of the transferor's entire interest in the thing assigned.
The contract terms will govern the division of any payments required to be paid. If the music license is assigned to a new company, the terms of the license agreement will specify how payments are to be made. If you transfer your rights to your brother, the company will likely only agree to make payments to the brother that holds the royalty rights. Any division of payments would then become a matter of a separate agreement between the brothers involved. Any agreements made should be put in writing, as oral contracts present problems of evidence if there is a later dispute. I suggest you contact a local attorney who can review all the facts and documents involved.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
