New Mexico Due Diligence Overview Oil and Gas Properties
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How to fill out Due Diligence Overview Oil And Gas Properties?
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You can also check the status of claims on the site. People can still file written claims with the department at New Mexico Unclaimed Property PO Box 25123, Santa Fe NM 87504. ?The [Taxation and Revenue] Department is passionate about matching unclaimed property to its rightful owner.
For an oil and gas company, due diligence provides insight into the titles and leases for the various properties, wells, and tracts of land used by the seller. The selling company puts forth data that says, ?I own this, I want to sell it, and someone wants to buy it.?
The New Mexico Uniform Unclaimed Property Act requires a holder of property that is presumed abandoned to send written notice to the owner at the last known address in 60 days or less, but not more than 120 days before filing the report.
We encourage all holders to file online at .
In New Mexico abandonment means the absence of the tenant from the premises, without notice to the landlord, for more than seven continuous days, and only after rent is delinquent.
Dormancy periods in New Mexico for common property types include: Wages or Payroll: One year. Checking Accounts: Five years. Money Orders: Seven years.