I am new to this world. I have an old division order from 2016 that my in laws did not sign. I reached the company and they sent me a new division order but the effective date is 6/2019. If I sign the new order, will I only receive royalties from 6/19 on or will I receive back pay from previous years?
Any advice would be appreciated!!
likely it will pay back to first production but you’ll want to read it thoroughly to ensure that you are not waiving royalties payable prior to the effective date of the DivOrd
You can simply change the date on the division order. You will need to ask the oil company about the back-royalties. It is possible that the funds were escheated to the state in the interim. Are you sure that your in-laws never received any royalties?
Different states have different rules. You have to sign to get paid in Texas. Not so in OK and other states.