My Sisters & I have a question about a hold on my royalty check.
When we called Houston, they told us that since I have a Living Trust, they have to put the money into a Title Suspense Fund or something. My sister does not have a trust, and has received her royalty check already. Does anybody else have this problem, and is it standard to do this on a living trust? They didn't tell me anything else, and were kinda rude. So didn't try to push it any farther. I was wondering how long do they hold the check in that Title Suspense until they release it.
Any answers??
Thank you
Roger
Roger, usually if they hold your royalty in suspense they are waiting on you to do something, usually cure / clean up loose ends with your title. I think you need to call them back and endure their rudeness until you find out what they want you to do to put you in pay status. Believe it or not, they aren't just sick with worry because they aren't paying you. They will just hold and use your money until you find out what is needed for you to get paid. Nothing says they need to volunteer the information either. If you don't ask, they may never tell you. Good luck.
Thank you r w. I will do just that!!!! Thank you for the information. I didn't know that.
will let u know.
Roger
r w kennedy said:
Roger, usually if they hold your royalty in suspense they are waiting on you to do something, usually cure / clean up loose ends with your title. I think you need to call them back and endure their rudeness until you find out what they want you to do to put you in pay status. Believe it or not, they aren't just sick with worry because they aren't paying you. They will just hold and use your money until you find out what is needed for you to get paid. Nothing says they need to volunteer the information either. If you don't ask, they may never tell you. Good luck.
Yes, Pete, they have all my information, Oasis has paid me for damages, for the plat, so they have my name and trust on their records. This would make me think that they must have all the information they need. And the trust is filed in the public record. That is what I thought too, is that they don't have copies of my trust. Should I call them, and try to find out who is in charge of the records, to make sure it is correct
Pete Wrench said:
No, it is not standard to do this on a living trust. Have you sent them copies of your trust documents (assuming they are not filed in the public record)?
Thank you Pete, I just got done talking to someone, who seemed to know what was going on, and after a lengthy talk, I think it is ok, something about putting the papers aside, until they could check out and verify everything, and then it seemed to be "misplaced" so will and see and see what the outcome it. Yes it does pay to be persistent.!!
Thanks again
Pete Wrench said:
Yes, it sounds like R. W. is right and there is some technical matter that needs to be cleared up. I would call them very 2-3 days until they cough up EXACTLY what you need to do to be placed in "pay status." Don't be afraid to be persistent, even if they accuse you of harassment or whatever. After all, these guys have YOUR money, THEY decide when the pesky phone calls stop.
Roger, I agree with Pete, It seems to be long standing tradition with the operator's people to tell you absolutely anything they think you need to hear to get you off the phone, and then they forget you as soon as they cradle the phone, knowing that you will probably be someone elses problem the next time you call. You can give up to a month but no more. I have known people who have waited a year before they ever started calling, and then got the run around I described above. More than slight patience does not seem to be productive. Also I suggest you write names down, so that if you do get the same person twice on the phone, you can reninisce about old times from early on in your attempt to get paid.
You got it!! thanks
Pete Wrench said:
A month sounds about right to me, then phone calls at least once a week. Fortune favors the bold.