We often get asked about missing oil and gas royalty revenues. Usually, the request comes from a descendant that recalls grandma receiving checks from an oil and gas company long ago. The most common reason oil and gas royalties go MIA is because the owner has passed away. Once the oil and gas company paying…
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Mineral owners with producing properties are familiar with receiving oil royalties or natural gas royalties. But what about all of those other product codes on your royalty check? Most commonly, royalty owners refer to themselves as having oil and gas rights or owning oil and gas royalties, but oil and gas are general terms that…
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Why avoid probate? Well, it’s long, it’s costly, and mineral and royalty estates can add some additional challenges, especially if the properties are located in a different state than where the decedent was domiciled. Probate is typically administered where the decedent established their home. The estate is subject to the requirements of that particular jurisdiction.…
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HELPFUL TERMS Listed below are general definitions commonly used in the oil and gas industry: GENERAL OIL & GAS DEFINITIONS ASSIGNMENT The legal instrument whereby Oil and Gas Leases or Overriding Royalty interests are assigned/conveyed. ASSIGNEE The person to whom Oil and Gas Leases or Overriding Royalty are assigned. ASSIGNOR Person conveying Oil…
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HELPFUL TERMS Listed below are descriptions of different oil and gas deeds as well as definitions of estate and probate terminology commonly seen when transferring oil and gas royalties from estates: OIL & GAS DEED TERMINOLOGY JOINT TENANT DEED Transfers undivided co-ownership to two or more people whereby, upon the death of the…
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BREAK THE CYCLE. MENTOR A CHILD. Some of the employees at Legacy Royalties have taken an active role in mentoring. We recognize the need to reach out to young children who are growing up in single-parent homes with little or no contact with their fathers. Statistics say that these children are far less likely to…
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BUILD YOUR OWN LEGACY. IMPACT LIVES. Providing oil and gas royalty owners a way to maximize the giving potential of their royalties. Legacy Foundation offers royalty owners an effective and creative way to maximize the giving potential of their royalties. Historically, most royalties donated to charities are immediately liquidated. Since the buyer is paying a…
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