Sometimes, payors or operators are unable to send mineral owners their proper royalty payments. Those funds will go into a holding account until you find and claim it. Most of the time, mineral owners never know about this and their money just sits there… untouched. Here are the top reasons mineral owners might have funds held in suspense:
- Insufficient Mailing Address
- Without the proper address, an operator may be trying to send checks that are being bounced back.
- Missing Tax ID
- If the operator does not have a W-9 form filed under your name, the operator will not pay your royalties.
- Unsigned Division Orders
- Related to insufficient address, if the operating company has not received a signed division order, they will not be sending your money.
- Minor Title Discrepancies
- Misspellings, lack of notice of death, owner transfers, or even incorrect legal descriptions listed on the conveyance documents can all cause funds to remain in suspense.
- Litigation Disputing Ownership
- Operators will also withhold payment if there is an active court case that pertains to one of your interests.
Don’t let these minor discrepancies stand in between you and money you are rightfully owed. Sign up with MineralWare for more information on how we can help you recover funds.