A lease in Reeves County was signed with Anadarko in the name of my parents' trust. They have since passed on, and the assets have all been distributed to the heirs, with the exception of the land interest in Reeves County. I spoke with Anadarko, and they said they needed a "Deed of Distribution" filed and sent to them. Does anyone have experience with transferring leasing agreements to heirs?
Thanks! Andrew in Palm Springs
The trustees (or successor trustees) need to file a distribution deed on behalf of the XYX Trust in the county records which lists the land interests, the beneficiaries and the fractional interest to each beneficiary. Be sure to include a statement that this distribution applies to and includes any other real property interests owned by the trust in Reeves County. That way if there is an error in description or a tract is accidentally omitted, the transfer will have occurred and you will not need a correction deed. A copy of the recorded deed (showing volume and page and document number) should then be sent to Anadarko. You can find samples of such deed on the county records or to be more careful, especially if there is a lot of acreage involved, have an attorney prepare the distribution deed. You can also have all of the beneficiaries sign which would prevent any future issues.
Thank you! Given that I am in California, do you think it would be better to hire an attorney there to do this?