Posted: | November 13, 2013 09:21 AM |
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From: | Representative Gordon Denlinger |
To: | All House members |
Subject: | Amending the Dormant Oil and Gas Act |
Since the utilization of oil and gas as fuels, many landowners have conveyed real property subject to reservation of the oil and gas rights underlying the conveyed property to the owner and the owner’s heirs. With the passage of time, the devolution of title to the reserved rights has become obscured and in many cases, the owners of oil and gas estates are unaware of their rights and, consequently, are unable to enjoy the benefits of those rights as preserved for them in trusts established under our Dormant Oil and Gas Act. Accordingly, in an effort to assist beneficiaries in securing their rights to and claim their trusts, in the near future, I will introduce legislation amending the Dormant Oil and Gas Act, similar to our Unclaimed Property Act, to enable beneficiaries to contract, for a fee, with persons better able to assist them in claiming their rights and trusts. |
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