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When is father died in 1547, John Albert and his brothers Ulrich III and George were jointly invested with the Duchy of Mecklenburg-Güstrow by Emperor Charles V.
However, on 4 December 1268 in Poděbrady, Ulrich secretly concluded a treaty with his cousin, King Ottokar II of Bohemia, in which the King was made his sole heir.
He also acquired a one-sixth share of the distrirts of Münzenberg and Assenheim and a share of Gronau.
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From Emperor Charles IV, he received toll privileges in Steinau an der Straße (on the trade route from Frankfurt to Leipzig), in Sterbfritz (on the route from Fulda to Würzburg) and in Kesselstadt at the bank of the river Main.
Ulrich III, Lord of Hanau (c. 1310 – 1369 or 1370), Lord of Hanau from 1346 until his death and governor in the Wetterau