In 1999 my grandfather signed over all his mineral rights to me. One of the transfers never happened. He never gave me a list of the transfers so I was unaware I wasn't receiving royalties from the one that didn't transfer. The production company, K.P. Kauffman Company, recently sent me a notice that they found the paperwork indicating that the transfer didn't take place as it should have in 1999. They sent me a form to sign to place me in "pay status". Am I entitled to the last 14 years of royalties? I dont know if they will automatically remit the funds. Should I try calling the contact in the letter or should I have a lawyer contact them directly. Any advice would be helpful.
Thanks
I forgot to mention that the property is located in Weld county CO
Charles,
My advice is to see what they send you since they are the ones who found the problem and contacted you. Apparently they are honest or they would have kept silent. I'm not a landman or anyone with knowledge of oil related things. Just someone who has dealt with all kinds of people over 71 years. Have a great day.
Yours,
Wes Luke
Charles:
I think that it is good advice to see what this company sends you in regards to this matter. Further, I would consider contacting an oil and gas attorney and have this material analyzed along with the history of your mineral inheritance and any supporting paperwork you may possess.
It is usually best to verify what you are signing to make sure it is what you think it is. For example, documents titled "Ratification" or "Amendment," although seemingly harmless may have significant implications or you may be giving up certain rights. You most often have bargaining or negotiating power before you sign, but not nearly as much afterwards.
Jenna H. Keller, Esq.
The information is for general information purposes only. This should not be substituted for legal advice and should not be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or reading does not constitute, an attorney-client relationship. You are encouraged to contact an attorney for legal advice concerning the information provided.
Thanks everyone. I spoke to KPK Monday and had the paperwork checked. Its a basic division order transferring ownership to me.
In Oklahoma you are not required to sign division orders but if you do you give up substantial rights, specifically interest on that royalties not paid. Definitely get good legal advice before you sign.
Contact a CO attorney. In oklahoma for failing to pay you, you are entitled to interest on the missed payments.
Either 65 or 12% if it was wilful failure to pay.
Matthew