Unclaimed property research discovered “lost” royalties accumulating in Lea County, NM. for us. Operator notified and they sent us check that covered several years. (money placed in “do not pay mode due to bad address”…They also sent a division order for same area.
Questions: Are division orders required to be sent back for New Mexico? (Operator is Lynx - headquartered in Texas, however) … does div order fall under Texas or New Mexico rules? Also, From lessons learned in NARO, new division order is trying to change original lease clause re. post production costs. Assume I can scratch out questionable clause.?
Learned that we do NOT need to return div.orders for OKLAHOMA mineral rights … but… if you don’t accept or understand how they arrived at interest decimal point, should you address this separately regardless of whether or not you return division order? I assume, yes…
Final question: other company assoc with same Lea county minerals turned THEIR share over to TX unclaimed property - why would one company hold money, and the other one send it to state unclaimed dept.? (still consider myself a novice here - thanks in advance for ALL feedback and advice.