Is anyone else getting overwhelmed with the amount of mail from Conner Winters, Barnes and Law and large checks delivered from Castlerock hoping to buy your mineral rights? Do you file these, or recycle? TIA
Better read those letters. If they are coming from the attorneys and are OCC cases, those are important. Are you getting Division Orders and checks for royalties?
Not sure what the Castlerock ones are. Offers to buy usually come from the buyers.
Hi Martha, I do read them, mostly. There is just so many to read. With all the oil runs I file and division orders and company name changes, and settlements it’s overwhelming. I am receiving division orders and royalty checks. The checks mostly by ACH. Castlerock Resources is a bank draft and my mineral interest documentation. I should write them my intentions of not selling. I get many from them for my Caddo interests. Thank you for the reply.
Be very wary of any offer that comes with a bank draft. The fine print can be completely different than the large print. You do not have to reply. You can just mark through the bank draft and put them in your files or shred them.
As to what to do with the OCC ones, there are several options. They contain very important information. You can file them in your tract folders. We order ours by township, range and then section. You can save them all in paper form or you can set up digital files and download them electronically and save them that way.
For the Division Orders. Absolutely save a copy in your tract files. You and your heirs may need to refer to them from time to time.
For the check stubs. You need to save them for seven years for IRS purposes. And you also may need to refer to them to see if you are being shorted. They are a gold mine of information. Since multiple wells can be on a check stub, we store ours by month and year and then rotate them through a filing cabinet, shredding the old ones as their time expires.
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