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1313 Campbell Rd., Bldg. D
Houston, TX 77055

(713) 222-9291
Fax (713) 224-5523
8am-5pm CST M - F

To Report an After Hours Emergency
Call (713) 222-9291 ext. 9

 

 

Changes to Owner Records

Below is a list of documentation required to affect changes to our ownership records for various situations. For questions regarding these requirements please call (713) 222-9291 ext. 10.

Address Change Submit change of address request in writing with signature of owner(s). If the title to the property is held jointly, both owners must sign.
Name Change A photocopy of marriage certificate, divorce decree reinstating maiden name or other document affecting name change.
Corporate Name Change Certificate of name change filed with Secretary of State
Corporate Merger Certificate of Merger filed with Secretary of State. Also, please provide new Tax I.D. Number
Appointment of Guardian or Power of Attorney Copy of Power of Attorney or Letters of Guardianship
Sale of Interest Copy of Conveyance Instrument as filed for record in the county or parish where the property is located.
Change in Ownership Due to Divorce Complete Divorce Decree including any conveyances made and filed for record in the appropriate county/parish.
Transfer of Interest to Trust Copy of Trust Agreement or Memorandum of Trust along with recorded conveyance in appropriate county/parish.
   

 

The following is a list of required documentation to transfer the interest of a deceased person’s royalty or working interest:

Will – Probated Through Court:  If an interest owner dies leaving a Will, we will need a “certified” copy of the Will, a copy of the Death Certificate, the Letters Testamentary, and Order Admitting Will to Probate.  All will need to be filed for record in the county where the property/well is located and then copies provided to us which show the clerks recording information.  Once we have been provided with these copies serving to vest record title into the heirs, transfer orders will be prepared and forwarded to the heir for execution.  Then we will transfer the interests presently owned by the decedent.  You should also provide names, addresses, phone numbers and social security or tax ID numbers for the heirs or assigns in order to set up their account.

If any of the deceased interest owner’s heirs or assigns are also deceased, we would likewise need a “certified” copy of that heir’s Will, etc., filed for record in the county where the property is located, naming his/her heirs or assigns.

No Will – No Probate Through Court:  If the interest owner left no Will, we need a copy of the Death Certificate, Letters of Administration, and an Affidavit of Heirship (individual state laws of descent and distribution will apply as appropriate) executed by a non-interested third party.  This document should be executed by a non-family member, should state that the individual executing it has knowledge of the deceased person’s family, and also states who the heirs or assigns are along with their addresses.  This document should be signed and properly notarized.  Both must be filed for record in the county where the property/well is located.

If any of the heirs or assigns are deceased leaving no Will, a Death Certificate and Affidavit of Heirship must be provided naming their heirs or assigns and must be filed for record in the county where the property/well is located.

 

1099 Information

Federal 1099 MISC forms are mailed by January 31st of each year.

IRS does not require 1099 forms for:

  • Royalty Income of less than $10 annually
  • Working Interest Income of less than $600 annually
  • Vendor payments of less than $600 annually

 

 

Common Questions

What is a Division Order?
A Division Order is an authorization for payment by the owner directing the operator to pay the owner in accordance with the decimal interest set out in the Division Order at the address as noted. The owner should always verify the accuracy of the information contained in the Division Order prior to signing and returning the instrument. The owner must provide the correct social security number/tax identification number to the operator to avoid the deduction of back-up withholding as required by the Internal Revenue Service.  The owner should maintain a copy of the Division Order for future reference.

When will I receive my Division Order?
Documents regarding a transfer of interest are analyzed for completeness and accuracy. Due to the time required for title analysis, it generally takes thirty (30) days before our owners receive the corresponding Division Order.


Why didn't I receive a check?

Executed Division Orders must be received five (5) business days prior to the check run in order for the revenue to be released.  If your Division Order is received after this time, your check will not be released until the following month's check run.

When will I receive my first check?
Checks are mailed on or about the 10th of each month.  Revenue will be paid only after it reaches $100.00 or as required by applicable state statute.  You may make a request in writing to receive your revenue when it reaches $25.00.  Owners who have less than $100 but more than $1 for the year will receive a check in November.

 

 

 

 



 

 

 

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2011 Mark L. Shidler Inc. All rights reserved. Mark L. Shidler Inc. is not responsible for typographical errors.