In my leases with Continental I always included a clause that required my consent to any assignment. My concern was twofold, whether earned royalties would be paid and how thw assignee would treat the owner. Well, I have freely consented to a few assignments but only one do I regret: Camino. I have been trying to have royalty payments directly deposited. Over six months. For some reason they will not do it. And the last two letters I have sent them have been returned to me unopened. So. Watch out for these people, the royalty owner is not important to them.
Send you request to: camino@ownerrelationssupport.com or rev.inquiry@caminoresources.com.
Todd: My wife called and was told that I am one of a bunch of owners who refused to provide information about actual depositors to or bank accounts. Information that of all my royalty payors only Camino demands blefore arranging wire transfers. Peculiar.
I guess you have a choice between supplying the requested information or risk having the mailbox bandit abscond with your check. If it were me, and this is not legal advice, I would request a Direct Deposit form, complete it as per their request and send back. Wallah, the funds are deposited into the directed account. Be sure and request that funds be distributed once they accrue to $25.00 or more.
Todd: You are probably right, and I probably will do that. It just raises my hackles that Camino … nobody else … wants access to information beyond that required to set up wire transfer. And I can see no reason for it. Consider: If I only had Camino paying royalty my trust account would be blank. So first-time lessors cannot have Camino pay by wire? Stupid. Another problem: I am an old f@rt who doesn’t like to be jerked around. I’ll guarantee one thing. Camino will get no more leases from me, directly or by assignment. But at age 94 I probably won’t be around for the next one and my kids (God, still calling these old folks “kids”) will be pushovers.
I hear ya! Also, I’m also shocked at my “Kid’s” ages!
Camino uses a different vendor to do their direct deposits. And I will admit that FIS is complicated and could be much easier. But it is what it is.