Minnesota Release of Production Payment by Party Who Was Assigned or Reserved the Production Payment

State:
Multi-State
Control #:
US-OG-401
Format:
Word; 
Rich Text
Instant download

Description

This release is used when an Owner relinquishes, surrenders, and quit claims all of the Interest in the Lease to the party provided for in the Assignment to own the interests and that the production payment having been fully satisfied.

How to fill out Release Of Production Payment By Party Who Was Assigned Or Reserved The Production Payment?

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FAQ

If property has not been removed within six months after it comes into the possession of a person, it is abandoned and shall become the property of the person in possession, after notice to the prior owner.

The most common types of Unclaimed Property are: Bank accounts and safe deposit box contents. Stocks, mutual funds, bonds, and dividends. Uncashed cashier's checks and money orders. Certificates of deposit. Matured or terminated insurance policies. Estates. Mineral interests and royalty payments.

Contempt proceedings shall be initiated by notice of motion and motion or by an order to show cause served upon the person of the alleged contemnor together with motions accompanied by appropriate supporting affidavits.

An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.

Unclaimed Property Division 85 Seventh Place East, Suite 280 St. Paul, MN 55101 (651) 539-1545 or (800) 925-5668 .mn.gov/commerce You may obtain information on how to file a claim, download a claim form, or search the Department's unclaimed property database online at .mn.gov/commerce/ or .missingmoney.com.

Unclaimed Property Division 85 Seventh Place East, Suite 280 St. Paul, MN 55101 (651) 539-1545 or (800) 925-5668 .mn.gov/commerce You may obtain information on how to file a claim, download a claim form, or search the Department's unclaimed property database online at .mn.gov/commerce/ or .missingmoney.com.

The law requires that banks, insurance companies, and others forward unclaimed property to the Department of Commerce's unclaimed property fund if there has been no activity or if it remains unclaimed for a period of time.

Minnesota requires holders to perform due diligence mailings for all property that has a value of $100 or more. Mailings must be sent no more than 120 days prior to filing a report each reporting season.

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Minnesota Release of Production Payment by Party Who Was Assigned or Reserved the Production Payment