I think I know the answers here; but I just want to run it in front of folks that may have done this before. I’m always amazed and thankful for the expertise on this forum - so appreciate any / all responses. also, I look forward to meeting some of you at next week’s national convention.
I help my father with his mineral interests / royalties. I’ve just moved him and my mom into an AL facility, so this obviously necessitates an address change. Below is what I’m thinking.
(a) all companies that are payors
(b) all companies that my dad has a lease with, even if non producing (not sure how I’d go about putting this list together - but trying to be complete)
(c) all county tax authorities that he pays real estate taxes on the minerals
(d) all county recorders/clerks he holds mineral interests in, whether producing or non-producing. I’m thinking this one is necessary so that the owner can be found, should minerals ever want to be purchased - but is this really necessary? my view is that if someone wants to find someone, they can - but perhaps I’m being naive here?
does the above seem a complete list?
a few follow up questions.
(i) this list assumes that I’m going to be notifying counties twice in some cases; both for a taxing authority and the recorder/clerk. is this painfully correct?
(ii) for the taxing authorities, I’m thinking I can get away with providing the parcel number (or equivalent) for identification purposes of the interest. seem reasonable?
(iii) for the county clerk / recorder, not exactly sure the process here - but thinking I need the legal descriptions. does this sound correct? this is the one I’m most concerned about.
Hi David. I had the precisely exact same situation. My father owned mineral interests and I had to move him and my mom into assisted living. I can fully understand what you’re going through, in several ways.
You don’t say exactly “how” you are helping your dad with his mineral interests. If your father is still able to actively manage his affairs competently and will still receive his mail, it’s just a matter of changing all his addresses just like you would change your addresses if you moved. If you are already managing his affairs, or think that might be on the horizon, you can change his mailing addresses to your address (even though he still owns the interests). You seem to have identified the entities who need to be notified. Also remember that most of them will have assigned your dad an “account” or “owner” number, which you should include in your correspondence.
I will also be at the national convention next week and would be happy to discuss these issues with you in more depth and how I handled it. I’m also a lawyer, so I understand a lot of the legal issues, although I’m still in the process of learning everything about oil and gas.
I can also help you with the journey you are embarking on with your parents. I’ve lived it for the last 5 years and I’ve learned so much in that time.
thank you. If you’re available, would you like to have lunch tuesday or wednesday to discuss further??
I’m a Petroleum Engineer, so happy to share oil/gas industry stuff :>)
well, in addition to this address change pain, I help him track pmts (sometimes they just randomly stop for various reasons), reconcile 1099 to payments, mgt of his LLC, sometimes taxes, etc.
yeah, biggest thing I did was have them put the minerals in an LLC years ago. when my grandmother passed, the pain associated with xferring mineral interests in virtually every county was a long ordeal. LLC makes this a lot easier, so after she passed, I convinced my father and uncles to move their interests to respective LLC’s.
I was at the entirety of the Texas NARO convention, so I’m only attending the full Thursday session in OKC. But I’ll be there sometime on Wednesday and could meet up with you at the reception on Wednesday evening or sometime on Thursday, or on Friday morning.
If there is a way to send a private message in this app I’ll send you my name and phone number and you can contact me when I get to OKC.