Comments - Helpful Tips for Successful Royalty Management - GoHaynesvilleShale.com2024-03-28T17:56:00Zhttps://gohaynesvilleshale.com/profiles/comment/feed?attachedTo=2117179%3ABlogPost%3A3257531&xn_auth=noLa. Unclaimed Property Act Se…tag:gohaynesvilleshale.com,2014-06-14:2117179:Comment:33208482014-06-14T14:38:31.368ZHBPhttps://gohaynesvilleshale.com/profile/HBP
<p>La. Unclaimed Property Act Sec. 154 (14) is 2 years on mineral proceeds. </p>
<p>TX I think is 3 years, but I defer to their unclaimed property statute. </p>
<p>Agree with Skip that the real question may be getting the right documents in place for the deceased member, otherwise nobody will turn the money over.</p>
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<p>La. Unclaimed Property Act Sec. 154 (14) is 2 years on mineral proceeds. </p>
<p>TX I think is 3 years, but I defer to their unclaimed property statute. </p>
<p>Agree with Skip that the real question may be getting the right documents in place for the deceased member, otherwise nobody will turn the money over.</p>
<p></p> I'll offer you my qualified a…tag:gohaynesvilleshale.com,2014-06-10:2117179:Comment:33180842014-06-10T17:35:23.730ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>I'll offer you my qualified answer. If memory serves unpaid royalties may remain in a suspense account for a set number of years. I think it's three but could be a little longer maybe five. At that point the operator turns the accumulated amount over to the state, more specifically the Secretary of State's office. The SOS website has a list of unclaimed money that may be searched and the SOS publishes a list annually in newspapers at least they have in the past.</p>
<p>Your questions…</p>
<p>I'll offer you my qualified answer. If memory serves unpaid royalties may remain in a suspense account for a set number of years. I think it's three but could be a little longer maybe five. At that point the operator turns the accumulated amount over to the state, more specifically the Secretary of State's office. The SOS website has a list of unclaimed money that may be searched and the SOS publishes a list annually in newspapers at least they have in the past.</p>
<p>Your questions begs the question why there has been no succession or judgement of possession filed for the deceased passing ownership to heirs? Neither the oil company nor the SOS will pay royalties in suspense to someone who can not prove ownership by proper probate.</p> How long can the oil company…tag:gohaynesvilleshale.com,2014-06-03:2117179:Comment:33128722014-06-03T17:53:36.780Zjim smithhttps://gohaynesvilleshale.com/profile/jimsmith50
<p>How long can the oil company hold on the royalty of a deceased family member if no heirs of the deceased comes forth?</p>
<p>How long can the oil company hold on the royalty of a deceased family member if no heirs of the deceased comes forth?</p>