LOCATING MONEY HELD IN ESCROW
WHERE DO WE START WHEN TRYING TO LOCATE MONEY IN ESCROW FROM AN OLD WELL, AFTER RELATIVE HAS DECEASED?
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Replies to This Discussion
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Permalink Reply by Prosperity on
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Expect to be in it for the long haul if the company is BP. In the process of doing this and it has been close to a year and they always comes up with an excuse for the delay. Wish it was somebody to report the O & G company to on matters like this.
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Permalink Reply by The_Baron on -
Send a certified letter to the operator of record. provide the information as statted by electro.
LA has a cute website for unclaimed property, go there and serch for the deseased name, you may turn uup somthing there as well.
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Permalink Reply by WalterC on
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I have a somewhat similar situation in Arkansas. I have a small royalty interest in a well there operated by Camterra that's been producing for 5 or 10 years. I recently learned that a deceased great uncle also owned an interest in the well. Camterra apparently never had an address for him. I do have an address for his son, who I intend to contact. Can the son still collect either past royalties or royalties going forward, do you know? Thanks very much.
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Permalink Reply by Aubrey C. Sanders, Jr. on
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If the Uncle did not leave a will bequeathing ownership to others your cousin and any siblings are entitled to payment for both present and past royalties. If Uncle left a widow she may be entitled to collect payment.
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Permalink Reply by The_Baron on
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Not as familiar with AR, but the royalties will be escrowed. After a certain period of time (of which in AR I am unfamiliar) the unclaimed money will be surrendered to the state.
The legal heir is entitled to the money. Call Camterra and see what paperwork they require, they will probally want a copy of a JOP or death certificate and/or affidavit of heirship at the very least. Remember it is the burdon of the royalty owner to notify the operator of any changes.
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