You will want to be able to have record of the royalty rate so if they are non-producing and a well gets drilled in the future, you can use this information along with # of NMA, size of drilling spacing unit to calculate your Net Revenue Interest to double check the DO. For more on oil and gas Leasing, check out Episode 6 If there were several versions generated during lease negotiations, it is usually only necessary to keep the final version that you signed. This documentation will be necessary for probate proceedings or for a petition for determination of heirship. If you haven’t gone through probate yet, need a copy of the deed with the person you inherited it from as the grantee (owner), or if title is still in say a grandparent’s name, then deed showing that person’s ownership.īasically, documentation that you have that you can use to build the case that you (an any other heirs) now the rightful owners.
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