Oil and Gas

There are times that an Oil and Gas Mineral Deed may not be currently accurate. This may be due to the change of the owner’s name or address. Or the owner died and the heirs are wanting to have the interest transferred to them. The name on filed mineral deed cannot be changed, so how can this be fixed? A supplemental filing can correct in inaccurate name or address.

In the case of updating owner name and/or address this can be done with a simple affidavit. A different process is needed when a mineral owner dies. Scroll down to the headline that most fits your situation.

This discussion is for State of Oklahoma. Similar modulations may be available in other states.

You are the Mineral Owner but your Name or Address Has Changed from the Deed

You may have trouble asserting your rights or receiving information if your former name or address is listed on a deed, court order or other document is no longer correct. This may occur because :

  • The address is wrong, you moved or moved or wish to use a Post Office Box
  • Your name changed because of a
    • Divorce
    • Marriage
    • Legal Name Change.

In addition to contacting any operators or parties paying royalties you may want to file an AFFIDAVIT AND NOTICE with the land records with the updated information.

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Why do I need to Make Sure My Information is Up-To-Date with County Records?

The County land records in Oklahoma are the only official location where oil companies, landmen, and others search to check title on property. If you are not listed there you might not receive notice of important issues that may affect your mineral rights. For instance, you may miss an opportunity to choose a higher royalty in a forced pooling.

What is Needed for the Affidavit?

The affidavit should have your current name and address. It should briefly explain why the item is being filed. The legal description where the minerals are located should be listed. Also if possible a reference to a previously filed document. Click here to request assistance.

Can I Search the Oklahoma County Records? Can I Search them Online?

You can also search most counties for records online. However, most counties provide a limited capability to search older documents. Online records search.

County records are open for inspection by the public at the County Courthouses. Contact the County Clerk’s office to determine their hours and limitations to access.

Begin your search here: County Clerk Information.

How do I Add or Remove Someone’s Name from a Mineral Deed

Adding Someone to a Mineral Deed

Often a mineral owner will want to change the deed or ownership by adding somebody else’s name to the title. If you are the owner of minerals and want to add an additional owner, you can do so by a simple quit claim deed. While the process is simple, the tax and other legal ramifications may make adding somebody else on a mineral deed ill-advised. There is often a better solution which protect you and avoids probate. There are simple documents that can be prepared to insure that your minerals pass to those you choose. Estate Planning for Mineral Interests

Removing Someone From a Deed:

If alive: That person would need need to sign a new deed that conveys their interest away. This can have adverse tax and other legal consequences.

If deceased: If the individual has died, an examination of the title will dictate whether and affidavit can resolve the issue or if a probate is necessary.

How to Change Name on a Oil and Gas Mineral Deed after the Death of Owner

If a mineral owner died a review review the title to determine whether he or she deeded the property into a trust or created a Transfer on Death Deed. If the deceased owned the property in joint tenancy or as a life estate. an affidavit and death certificate can resolve the title issue.

What If Mineral Owner Died, Is a Last Will Required to Probate?

No, if probate does not require that the owner had a Will. When there is no Will, the heirs inherit according to the intestacy statutes. For more information see Probate.

Are Mineral Interest Registries a Good Idea?

A private company that offers to register your minerals in their has no official sanction. While they may offer other services, those interested in your minerals will go the county clerk for those records. Many believe that registry services are a waste of money.

           One problem facing many mineral owners is how to pass property to loved ones without the time, expense and frustration of going through the probate court.  One solution is a simple “Oklahoma Mineral and Royalty Trust”.  Your oil and gas interests are owned by the Trust that you manage.  You lease, sell, buy just as before.  The income belongs to you.  While you are living there is not separate tax return. You choose who will receive the property once you pass.  The property is conveyed to your family or other beneficiaries without the intervention of the probate court.

Questions? Click Here

What you need to get started:

-List of legal descriptions (or deeds) of your properties.

-List of who you want to be in charge after you’re gone.

-List of the people or charities you want to inherit.

Features:

-Inexpensive to Set Up

-Simple to Manage, just like you do now

-Avoids Probate Court and Judges

-No Separate Tax Return (During Your Life)

-Private

-Revocable Terms

-Change Beneficiaries

-You Stay in Control (Sell or Lease Interests)

-You choose who manages and inherits

-Stepped-up Tax Basis

-Works with Leased or Un-leased Minerals

-Beneficiaries problems (divorce, bankruptcy, judgments, creditors) won’t impact your ownership

Also available for Mineral Owners who reside outside of Oklahoma.

If I have a Trust Do I Need to Transfer Oil and Gas Mineral Interests Into It?

If you have an existing trust, one of the keys is make sure that it is funded. In the case of oil and gas this means deeding that interest to the Trust or Trustee. The deed must be filed in the county where the minerals are located. It is also advisable to file another document that identifies the trust, the trustee and provides additional information. This is a memorandum certificate or affidavit of trust.

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