Canada freehold mineral owners oil & gas lease and mineral rights discussion group for Ontario, Manitoba, Saskatchewan, Alberta and British Columbia.
A good map of Canada with Township, range, and meridians
Lori, do you (or anyone else reading) know anything about Prairie Land and Investment Services (www.prairie-land.com). I have been approached by them regarding some small interests in Manitoba.
Checked in today. How is everyone? As I read about the sask. Governments longturm plans, I feel less hope. It seams they offer five percent royalty and are commited to promoteing price stability for twenty years…encourageing infrastructure etc. they want to avoid albertas mistakes and want to really compeat in developeing the provences resourced. Anyone else reading the same?
Hi Lori,
Can you please post a link to your source? I need to share the information with my partners and cannot get a good link.
Hello all, I need a little help. Just learned my 83 yr old mother owns mineral rights in Canada, Manatoba I think. Legal description is: SE 34-9-29WPM. I have no idea where this is located. She received a lease offer from a leasing agent. Does anyone know where this is and what going rate for bonus & royalty? Thanks in advance for any help. Tom
Tom it goes section, township, range What I wrote below is wrong. So find prime meridian . Count west 29 ranges.count. north 9 townships. Zoom in and find section 34. You are the se corner of section. 34.
I know nothing of how Canadian Oil rights are held & I have a few questions:
My fathers log mentions six small mineral properties in Canada:
11N-27W-Sec.12: E/2, 80 acres, 1950's purchase, Manitoba, seller-John Kormylo, buyer Ben L. Robertson.
5N-33W-Sec. 31: N/2 , 158 acres, 1950's, Saskatchewan, Seller Marie LeMieux, buyer Ben L. Robertson.
Plus four other properties where Computershare Trust CO of Canada is Trustee.
How would I verify if the first two properties were completed purchases? I understand that there is a Marie Le Mieux Trust, my fathers name is not mentioned as a unit holder in this trust. Therefore I assume he retained no interest. Has anyone heard of John Kormylo? is this also a trust? Are trust co.'s such as Computershare, trustees of all privately held minerals in Canada? Would we be considered a "Free Hold Mineral Owner" if we only own a few properties which Computershare is trustee of? Thanks. FYI our other properties are: Mobil Bellguard Sec. 9, Stoughton Sec. 27, Purvis Jorgensen Sec.15& 23 all Royalty Trust, w/ Royalty Certificates, w/ Computershare Trust CO.
Looking foor a little help. My 83 yr mother owns some mineral acres in MT, ND & Manitoba. We are trying to avoid going through probate when the time comes to transfer owmership. In MT & ND there is a "Transfer Upon Death" form that can be signed and noterized that make probate unnecessary. Is there a simalir form in Canada? Thanks, Tom
Tom, I don't know about Canadian law but; my mother is 94 and has interests in MT& ND. Years back she signed & notarized deeds granting an "undivided 1/3 interest" to each of her 3 children. I hold the notarized deeds and should she get seriously ill or.. I will mail them off to be recorded. We didn't do the "Transfer Upon Death" because she wanted to retain the ability to re-deed should anyone's situation change (she would tear up deed and sign another). We passed this by our ND attorney and got an ok. In Canada we have shares held by a Trustee, some of our Certificates have been signed over and are being safely held. Should we want to change the grantee, we will tear up the Trust Certificate, pay $10+/- order another and sign it. Most of our minerals are being put into a LLC to avoid the hassle of transfer.
Louise, I wish I could help. I think a lawyer is what you may need. Our grandfather sold the surface rights and kept the mineral rights. He put it in a trust, and the grand kids own it 100% but his children benefit from any money that may come from it , until death, and then it goes to us.
any one following the Chinese purchase of Potash , nextel what ever company that is ?
Tom, I do not believe there is a TOD available for Canada. The Canada Revenue Agency (CRA) gets a capital gains tax when there is a transfer of ownership. They don't specifically have a estate tax or inheritance tax but when ownership is changed, they charge a capital gains tax. The tax calculation is to subtract the initial cost of the asset from the current market value and divide that number in half. Then apply your normal income tax rate to the balance.
The capital gains tax can be avoided by forming a corporation in a strategy called an estate freeze. My mother and aunt did this strategy in 1991. It is a little complicated but it avoids nearly all the capital gains taxes at death. The problem is that the corporation may have to pay corporate taxes on profits which is a significantly higher tax rate than individual income or dividend taxes. I understand there are some new estate freezes available now, but the CRA will figure out how to get their money.
You probably need to verify what I told you, since I am not a Canadian professional or tax expert.
RE: Offer to Option Lease Petroleum and Natural Gas Rights
Registered Owner: each as to an undivided 1/3 interest
We are forwarding this offer letter for your review. On behalf of our client we are offering the following for a 1 year option to lease on the subject rights:
Option Consideration: $1000.00 (Canadian funds)
Lease:
CAPL 88
Bonus Consideration:
320 acres X $35/acre = $11, 200.00 (Canadian funds)
Lessor Royalty:
Cap on Deductions:
15%
No Deductions
Term:
3 years
Lump Sum Rental:
$320.00 (Canadian funds)
Lori, was this an offer you received?
Yes. My kindel battery.died so couldn't.elaborate. we are not very interested. At least I'm not. My brother Steve took a ten day trip and not sure where they are in discussions. I brought this up on the general lease help forum too. Option thing looks bad. So does capped 88 lease. I have to say we do not know what we are doing. Maybe we are on a crummy piece of land and we are too picky. Our family needs to talk and decide what conditions we will accept. What size of operator. What parts of the lease we will bend so that a deal can be made.
ListMineralRights.com is a sight I found to contact more freehold owners. I sent six or seven notes and had very positive responses. I gave out our forum links and perhaps we will see more news here. I also listed an ad there for free. Our offer you see here came before placing the ad… heard of a few potash deals.
My dream world would be for Just Energy to develope our land. They use the freehold friendly lease in that Provence to the west. I forgot the name.
Louise, Have you gotten an answer to any of this? Wow. I do not know a thing. We own our minerals out right, not in a trust. I have read about complications with the railroads up there when mineral rights were in transition...but don't know why yours are in a trust. I think I read it on the FHOA web sight. It's the best I can offer.
Wondering if anyone has an idea of the current per acre sale price in the Daly Sinclair field in Manitoba? Thanks,
Tom