We own minerals in the ND Bakken field and have a Revocable Trust in another state in which we live. We have an article in our trust that passes the minerals to our children. However I recall several years ago that someone on the MRF indicated it would be better to have the minerals in a separate trust because of the ND mineral law. Cannot remember anything more specific than that.
Anyone here that has any opinion on this? Or knows a ND attorney that could advise.
Thanks.
I cannot answer the legal portion, but would remind you that non-producing minerals in ND need to be claimed every 20 years in the county in which they are located. I also file the producing ones, just to make sure that they are all covered. You might want to make sure they are now in the current trust name if you have not done so, but if you change trusts, then claim them in the new name. The counties have a specific form and are quite picky about margins and space left for the stamp, but it looks something like the attached document. Call and get the updated requirements and fee structure. STATEMENT OF CLAIM OF MINERAL INTEREST.docx (12.4 KB)
Thanks for the info. You bring up some things that I am not sure about, but they are very important and I will check to verify that they are in the trust name. Also will file them with the county.
Thanks again!
I have been through same processes, if you’d like to discuss, contact me directly…
I do have an attorney I believe in minot maybe has always been there and done an incredible job. I can transfer her contact info to you directly… please provide number for me to give to you however that’s done…
Scott,
I have found through another source, an attorney in McKenzie County, that should be able to provide me with some advise as to my situation.
Thanks for your reply.
