It is wise to get an attorney involved for anything with a title transfer as one wrong word can really mess things up. There are several listed in the Directories tab above or get an OK probate attorney from the OK Bar Association (if your parents lived in OK).
Thanks again for the info!!! I’ll get an attorney to draft up the transfer paperwork.
Please explain a bit further on the “increased density” comment. What does that indicate they are doing in S7?
I told the Landman yesterday I was inclined not to sell, and to wait for pooling and see if there’s a better royalty. Their bonus wasn’t great and they offered 3/16 royalty. I asked for 1/4, they refused. He said his client has not offered anything over 3/16. I’d rather have a cash cow than $27,000for selling.
Take care!
Matt
Matt, you should review the trust documents and follow the instructions regarding when and if the minerals are to be distributed. Also, make sure that the minerals were deeded into the trust by the owner. This should have been done by your father before his death if they were in his name. If not there are solutions.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
Thanks Richard!
Yes, it was moved in to the old trust years ago and is accurately reflected in the MR legal description. I just spoke with an attorney in OK on this. She thought 2-2.5 hours to complete and file the transfer.
I’ll let you know how that goes.
Matt
Increased density cases are requesting that more wells be allowed to be drilled within a certain spacing unit.
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