Transfer of ORRI

My sister has a ORRI in Sec 21, T26S, R35E. She has MS and would like to transfer the ORRI to her daughter, who is her caretaker.

Does anyone know how we could go about making that transfer?

Contact the Lea County Clerk, she will most likely point you in the correct direction as to who or what you need to do. mk

It would be wise to get professional legal advice in order for the ORRI to pass properly as the wording must be perfect. The clerk’s office may be able to give a general idea, but they are not giving official legal advice.

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wondering why when I post takes forever for approval m barnes replies many times daily I guess she doesnt need approval hmmmmmmmmmm

You and I both! I have posted on a couple of occasions and don’t recall ever being approved.

M Barns is obviously very knowledgeable in matters regarding the oil patch; consequently, I appreciate the timely responses to the many questions. She gives answers, most of us just have questions.

Ms Barnes is a Moderator here, so I doubt she needs permission to post as she is one that has to look at everyone else’s post to make sure it conforms to the rules here. A time consuming job that she gladly accepts for free.

MK

Actually, I am a contributor like everyone else. The administrator monitors the board and sets the rules, not me.

There is a Moderator badge next to your name? So I assumed that you were a moderator. LOL Oh well I will at least say thank you for your contributions as you help many people . mk

LOL, just noticed the extra badge. Didn’t know what it stood for…

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LOL No problem Ms Barnes, Now you know. :slight_smile: mk

This is fairly simple to do and many do it themselves. However, if your sister doesn’t have experience in this world, she should find a New Mexico attorney to prepare the form. The biggest considerations are making sure she properly conveys all the interest and confirming how the daughter wants to take title (i.e., own) the interest going forward. I agree the Lea County Clerk will not help you do this.

The reason I suggested the Lea County clerk office, is they gave me info for Attorneys in Hobbs and other areas to consult.

Do to rules here on this forum I did not want to mention the names of said reference that are not part of the Directories here.

Just so everyone knows why I made the suggestion as I also have interest in Lea County minerals

mk

In this day and age you can Google anything I myself would not spend money on legal advice the forum people are very help full but thats just me. I knew nothing ( and still dont ) my brother did our mothers mineral rights with the clerk for the 6 of us. In the following year was approached to sell our ORRI for 150,000 after alot of leg work and being accused of being a Landman brokered a deal for 950,000 for 5 of us selling just half our interest . I wish you the Best of Luck our interest also in LEA CO the best for LEA CO. advice in my humble opinion is the incomparable NM oil boy

Be sure and check about gift tax. There is an annual limit to give with out tax. Likely value of minerals will be under the amount but check.

If you really want to get into the weeds: liveweb.leacounty-nm.org select the “clerk” and you can look at previous recorded deeds. It may give you an idea of what am attorney will provide. If you go the Lea County wed site, the “clerk” is an elected position, and is the person who records things.