Greetings! I reside in Greece and am interested in making a modest investment in the mineral sector, focusing on royalties and interests. However, I aim to conduct thorough research before committing any funds. What initial steps should I take to gather valuable information for informed decision-making?
You may run into this issue since you are living in Greece.
New OK law goes into effect on November 1, 2023. SB 212 requires any deed that is recorded with the county clerk to include an affidavit as an exhibit that is executed by the person, entity, or trust coming into title attesting that the person, entity, or trust is taking title in compliance with state laws on foreign ownership of property.
Here is the link.
SB%20212%20QA.pdf
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Thank you for your advice! I’ll review it, but I might go through it with a friend in the States to prevent such situations.
The law is for new purchases. There is a whole thread on the forum discussing this item.
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You’re best off buying publically traded securities. It would be a nightmare to manage royalties from abroad. If you did buy some, you’d need a stateside administrator which would kill the economics of owning them directly.
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The idea sounds promising! However, I believe consulting with a financial advisor is crucial to navigate this complex matter and prevent potential mistakes. Could you recommend someone who can assist me, or suggest a reliable source for learning more about these investments?
Are you investing in a “fund” or actually trying to acquire interests on your own? Not to be rude but it seems that you dont have much experience and a good way to lose a lot of money if you are trying to do it on your own and not cutting a check to a fund thats raising money. Theres no “crash course book” that can teach you how to buy minerals/leases. I would look at other investment opportunities or buy some oil and gas stocks if you really want to get into the sector.
Mike, I would be very careful going into any business where you don’t know what you are doing, or have limited experience. If someone suggested one should open a restaurant, the proper response should be “what do I know about running a restaurant.” The same response can be used here.
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