division orders and getting paid
im not quite sure which one of the resident pros to aim my question but would like to hear from anyone with insightful knowledge......
i have been involved with some differant mineral intrests for about the past 10 years or so , i am already involved in two paying units for which i had to sign division orders before getting paid. that makes good sense to me as it would be a formal inquire as to proper division. so my question is other than the obvious,( only one owner in the unit) under what circumstances would no division order be needed to get paid?
if it matters, im in texas,
kj
i have been involved with some differant mineral intrests for about the past 10 years or so , i am already involved in two paying units for which i had to sign division orders before getting paid. that makes good sense to me as it would be a formal inquire as to proper division. so my question is other than the obvious,( only one owner in the unit) under what circumstances would no division order be needed to get paid?
if it matters, im in texas,
kj
Views: 27
Replies to This Discussion
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Permalink Reply by king john on
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kb
thanks you always have great info.i can say my lease has no particular language in it regarding division orders or stipulations for timely payment. i am just wondering why division orders were not ordered and thought there may be some circumstances i am not aware of under which they are not needed.
kj
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Permalink Reply by The_Baron on -
Are we talking about withholding payments from RI who refuse to sign the DO, or are we talking about withholding all payments until a proper abstract, title opinin and DO is complete?
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Permalink Reply by The_Baron on
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Jim, you know as well I as I do that many bad leases are taken. Also many things can happen in the years after a lease is bought and a well is drilled.
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Permalink Reply by king john on
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jim and baron,
i have heard but not confirmed that in texas unless otherwise stated the company can hold royalty income as long as intrest is paid. i think im about to have to get serious with my operator and make some certified demands. i happen to have a copy of the texas nat. resource code in my possesion and getting ready to do some reading. thanks for the post and knowing where to look for the information is valuable.
kj
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