Hello. I hope someone can assist. My mother owned several interests in various gas and oil properties. All but 1 of these properties had been transferred by Quitclaim to her and my father's Revocable Trust before their deaths. They accidently missed transferring 1 property in Cowley County, KS to the Trust. Upon my mother's death (my father dies before she did), the Trust became an Irrevocable Trust. The sole successors are myself and my 2 sisters. We are trying to get all production companies to change over the ownership of all properties to the Trust and have been very successful with 1 exception. (We plan to sell them all.) The company overseeing her Overriding Royalty Interest in 2 properties (1 of which is the one in Cowley County, KS and the other in Osage County, OK) is unable to accept the Quitclaim deed we provided for the OK property, along with death certificates for both parents and more. They say, "The interests owned by Ms. Stone were both overriding royalty interests. This type of interest has to be assigned, rather than quit claimed/deeded." When I asked for a sample of what they need, they could not provided it nor could they provide additional information other than telling me to ask a lawyer. We would like to avoid that cost if at all possible. Can anyone tell us what document we DO need and provide a sample or way to find one? The Will did not go through probate. We simply divided the assets amongst ourselves as dictated by the Will. My eldest sister is Executor of the Will and Trustee of the Trust. Can she sign whatever document we need so that we can either transfer the properties to the Trust or have them both divided so that the 3 of us each get 1/3 of the interest? Thank you.
You might try this form:
https://www.sec.gov/Archives/edgar/data/1202963/000119312505092492/dex1087.htm
Best,
Buddy CottenThank you for the quick response!
If the company will not accept a quit claim deed, that means you will need to get a court order or file for probate. Once the court approves the will, then your executor can transfer the property to the trust, which then the trustee can distribute as needed.
Thank you for your help, Abby!
With a somewhat revised version of the document Buddy Cotten provided above, as well as a notarized document making me Attorney in Fact for all issues related to oil, gas, and mineral rights, we were able to solve the problem!