Wynn-Crosby

Information for Interest Owners

  • THIS INFORMATION IS FURNISHED TO GUIDE YOU IN PROVIDING DOCUMENTATION REGARDING A CHANGE OF INTEREST.

    Following are the most commonly encountered situations that result in either a change of ownership or a change to the payee. Obviously, we cannot address all situations in this summary. There may be some changes in our requirements due to the laws of each jurisdiction. Wynn-Crosby has experienced a significant reduction in staff due to extended low commodity prices and we must obtain information as efficiently as possible in order to respond to the questions and needs of the more than thousands of royalty owners with whom we communicate. If you are in doubt or require additional information relating to your particular set of circumstances, please email us at ownerrelations@wynncrosby.com and we will respond as quickly as possible.


  • Address Changes.      WE CANNOT MAKE ADDRESS CHANGES BY PHONE. We must have a letter stating the owners account number (which can be found on the lower left corner of the revenue checks), their social security or tax I.D. Number, the old address, the new address, a phone number, and an original signature by the owner as stated on the account. We cannot accept letters written by parties other than the account owner without proper documentation (such as a Power of Attorney) indicating the person has the authority to handle the affairs of the account owner. Any and all letters requesting an address change must have a signature on them to be effective.

    If The Owner Has Died:

    Title to real property owned by the deceased party passes one of two ways – either by testate succession or by intestate succession. Testate is with a probated, Last Will and Testament.  Intestate is without a will.  In the absence of a Will, or if the Will has not been probated, title to real property passes according to the Laws of Descent and Distribution for the State in which the wells are located, and not the state of residence.

    Required Documents:

    Testate  (Probated will)

    Intestate (without Will /or Will not probated)

    Copy of Probated Will, Certificate of file
    containing Probate File Number from Probate Court

    Death Certificate

    • Letters Testamentary naming Executor;
    • Determination of Heirship, Judgement of Possession;
    • Final Decree of Distribution;
    • Provide proof that debts and inheritance taxes paid;
    • Recorded Deed to beneficiaries (if appropriate).

    • Heirship Affidavit (2):
    1. Provide affidavits from two separate individuals
    acquainted with, but not  related to, the deceased;
    2. Signature of affiants must be notarized;
    3. Affidavits must be recorded in County where the well is located.

    • Furnish Addresses and Social Security/Tax ID numbers for each party inheriting.

    • Furnish Addresses and Social Security/Tax ID numbers for each party listed as a surviving heir of deceased.

    • Record a certified copy of the Will & Probate in County where well is located.
    OR
    • Provide documentation of ancillary probate proceeding
    in the state where well is located.

    NOTE: We prefer Heirship Affidavit not to be completed by direct family members (those with a beneficiary interest) to the deceased owner. The form can be completed by a friend, acquaintance, neighbor, minister, etc. who knew the deceased and had familiar knowledge of their family history.

    Sale of Interest

    1.   A copy of the conveyance document filed of record in the county in which the property is located.
    2.   If an unrecorded copy is submitted, the interest will be suspended until we are provided with a recorded copy.

     

    Name Changes:

    1.   A name change due to marriage, divorce, etc., provide copy of marriage certificate, divorce decree or other document effecting the name change.
    2.   A company name change requires a copy of the Certificate of Name Change or Certificate of Merger.

    Trusts:

    1.   Copy of Trust Agreement and recorded conveyance into Trust
    2.   Trust Dissolution requires a copy of the instrument of Dissolution or other appropriate recorded conveyances.

     

    Other:

    Guardianship:

    When an owner is declared incompetent, furnish Letters of Guardianship issued by the local court. When a minor reaches legal age, we need a copy of the minor’s birth certificate.

     

     

    Bankruptcy:

    Copies of court order appointing Trustee and if appropriate, recorded Conveyances and court order confirming any sales.

     

     

    Termination of Joint Tenancy:

    Copy of death certificate and social security of new owner.

     

     

    Life Tenant
    (Life Estate):

    When Owner of Life Estate dies, copy of death certificate and the names, addresses and social security numbers of persons owning Remainder and who succeed the interest. Some cases will require additional information including instruments creating the life tenancy and named successors.

     

    How can I find my Owner Number?

    It is important to provide your owner number when communicating with Wynn-Crosby. It can be found in the lower left corner of your check stub.

    How often should I receive a check?

    Checks are mailed at the end of each month. Please allow at least 10 business days for delivery. We do not issue monthly checks for amounts less than $100. Once a year, in October, we will issue checks for all owners with balances greater than $10. Payments may be suspended if we do not have a Tax ID on file, bad mailing address, or incomplete ownership documentation. If you believe you should have received a check, please email ownerrelations@wynncrosby.com with your Owner number so we may respond to your request.

    Does Wynn-Crosby offer Direct Deposit?

    Unfortunately, we are not able to offer Direct Deposit for revenue payments at this time.

    When are 1099's sent out?

    Your 1099 Misc Tax form is mailed no later than January 31st for the prior calendar year. If you need another copy of your 1099, you may email us at ownerrelations@wynncrosby.com with your mailing address, Owner number and/or the last 4 digits of your Social Security number so we may respond to your request.

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