You May Have a Check for Unclaimed Royalties Waiting

Did you know that many people have unclaimed oil and gas royalties of which they are not aware? And you may be one of them. Each state government is responsible to maintain and administer an account containing unclaimed funds whose owners cannot be found, or to which there is questionable ownership. And it’s not chump change – it’s millions and millions and millions of unclaimed royalties. State statutes allow suspended royalty funds to be handed over to the state government after a prolonged period. In effect, the law allows oil companies to off load the responsibility of administration over these oil and gas royalties after a period of 3-10 years, depending on the state. At this point the oil company gives the state whatever records it has, and the responsibility of administering these funds is transferred to the state. These funds now become part of that state’s Unclaimed Property. The article “Royalty in Suspense” discusses how individuals can access money owed them that is held by oil and gas companies which has not yet been handed over (escheated) to the state.

There are a myriad of reasons why unclaimed money ends up here - among the most common are invalid mailing addresses, simple misspellings, or a minor title issue. Common unclaimed properties that end up with the state are utility deposits, insurance dividends, oil and gas royalty payments and stock dividends.

Find Your Unclaimed Oil and Gas Royalty, It's Easy

With today’s technology, it is easy and quick to check your name or your company name for unclaimed royalty funds that may be owed you. You’ll have to jump through a few hoops with the state to get your unclaimed money, but the process is generally not too burdensome. And of course, it may be that the payoff will be well worth the time!

If you would like to discuss mineral rights related issues with other landowners visit MineralRightsForum.com.

To find your unclaimed oil and gas royalty, click on your state from the list below.

Additional Reading

Cash payment for oil and gas royalty – Learn how to exchange your oil and gas royalties or mineral rights for cash.
Division Order – Explanation of oil and gas Division Orders for mineral, royalty, and overriding royalty owners. Answers to questions, definitions, and sources for help.

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