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An Introduction to Colorado Mineral Rights: Concepts & Terms
A mineral owner is an individual who is entitled to receive monthly or annual royalty income from operators producing crude oil or natural gas because they own the mineral property, not to be confused with the “Surface” property. The mineral property is under the surface. Mineral interest is a property interest that is created when…
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Trusts & Mineral Rights: How Trusts Provide Enhanced Protection, Flexibility, and Planning for Colorado Mineral Rights
When it comes to estate planning in Colorado, mineral rights often get overlooked compared to other assets like real estate or retirement accounts. However, for those who own mineral interests in Colorado’s resource-rich areas, integrating these assets into your estate plan is important. Without proper planning, heirs could face significant legal hurdles, confusion, and unexpected…
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Mineral Rights & Estate Plans: Why Proper Planning Is Essential when Dealing with Colorado Mineral Rights
When it comes to estate planning, most people tend to focus on assets like real estate, bank accounts, and investments. However, if you own mineral rights in Colorado, integrating them into your estate plan is critical for protecting their value and ensuring a smooth transfer to the next generation. Without proper planning, your heirs &…
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Understanding Suspense Issues with Colorado Oil and Gas Royalty Payments
Suspense issues with Colorado oil and gas royalty payments can be both confusing and frustrating for mineral rights owners. When royalties are placed in suspense, it essentially means payments are put on hold until certain legal or administrative issues are resolved. Whether it is due to title disputes, probate delays, missing documents, or even simple…
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Understanding Ancillary Probate for Colorado Mineral Rights
Ancillary probate may sound complex, but it is simply a legal process that occurs when someone passes away owning property in a state where they don’t reside. The ancillary probate process includes notifying interested parties, resolving any claims against the estate, and properly distributing the property as directed by the decedent’s estate plan documents. Ancillary…
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Personal Representative Mistakes When Dealing with Colorado Oil & Gas Mineral Interest
When administering an estate, a personal representative may be tasked with managing and effectively transferring the deceased’s mineral interest to the designated heirs or beneficiaries. Handling the transfer of mineral rights from an estate to the listed beneficiary is often an overlooked responsibility of a personal representative. The mishandling of the transfer of mineral interests…
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Understanding Deed Types: Most Common Types of Deeds in Colorado
When it comes to conveying property interests, there are different types of legal documents that may be used to convey property ownership. Common documents used to convey property interests include warranty deeds, mineral deeds, quitclaim deeds, personal representative deeds, and trustee deeds. The type of document used will depend on the specific situation, including the…
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