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 situation involves contract law principles regarding the transfer of rights. Assigning your royalty rights means you are transferring your ownership to your brother, typically through a written agreement. Unless specified otherwise, this transfer usually includes all your rights to the royalties.
Once you assign your rights, the company will likely pay only your brother, who will then have to decide how to distribute the money among the four of you. Any division of the payments would need to be agreed upon separately among the brothers.
It is essential to put any agreements in writing, as oral contracts can lead to disputes later. I recommend contacting a local attorney who can review your specific situation and the relevant documents.
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.