The types of documents that can change ownership on a real property account include (but are not limited to): a deed, title, a court order or a death certificate. In some cases, there may be a need to file more than one type of document to complete the process. The documents must be recorded in the county where the minerals are located. If you have any questions about the preparation or filing of a document, you may want to consult with an attorney, real estate professional or title company.
What should I do when a royalty owner dies?
The requirements of ownership transfer due to death vary by state and are dependent on whether or not the deceased has a Last Will and Testament. You may want to contact an attorney to advise you how to proceed.
What information is needed when there is a change in Trustee?
Provide Investor Relations with a copy of the applicable portion of the Trust document that identifies the successor Trustee, the duties and the powers of the Trustee, and the circumstances leading to the replacement of the Trustee. Complete and submit a CHANGE OF ADDRESS form if needed.
What happens when the owner having a life estate dies?
Interest is transferred to the remaindermen. The death certificate and a copy of the deed noting the life estate should be submitted to Investor Relations. The remaindermen addresses and tax identification number (s) are required as well.
I sent my transfer documentation in. How long will it take to hear back?
The amount of time it takes to complete a transfer depends on the complexity of the issue. For the information on your transfer, contact Investor Relations or call (618) 943-2227.