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CHANGE OF OWNERSHIP

Please note this section contains the requirements of Own Resources Operating for ownership transfer and is not intended to be, nor does it constitute, legal or tax advice.

You should consult an oil and gas attorney along with your tax advisor whenever transferring property.

In the event of a Name Change of a business or an individual, please provide:

1

Updated IRS W-9 form

2

Any recorded conveyances &

3

Court certified copy of the

  • Marriage Certificate,

  • Divorce Decree with Settlement Agreement,

  • Court Ordered Name Change.

For a General Transfer of Ownership, please provide:

1

A copy of the recorded assignment and / or deed. The documents must be recorded in the county where the well(s) are located. To obtain a copy of the current owner’s recorded assignment and / or deed, or to record a new conveyance, please see “HELPFUL LINKS” for county contact information.

2

Completed Change of Ownership form, and

3

IRS form W-9

In the event of the death of a royalty owner, please also provide:

Death Certificate

  • Along with any, or all of the following

    • Certified copy of the Last Will & Testament

    • Order admitting the Will to Probate,

    • IRS Letter issuing TIN to Estate and showing Personal Representative,

    • Certified Letters Testamentary or Letters of Administration.

If your request includes the transfer to, or from one of the following, please also provide documentation to verify the entity, and who within the entity is authorized to make account requests and changes;

1

Trust Agreement

  • Pages from a fully executed trust with Full Legal Name of the Trust, Trustees, Successor Trustees, All Signatures executing the Trust, or

  • Certificate of Trust, or

  • Statement of Authority

2

Business – LLC, Partnership, Corporation, etc.

  • Pages from an existing business agreement with Full legal name of the company, Partners / Members / Owners, who within the organization is authorized to make financial decisions, all signatures executing the Agreement, or

  • Secretary of State Certificate of Good Standing / Registration, and

    • Articles of Incorporation / By-laws, or

  • Statement of Authority.

When signing documents on behalf of an account owner, such as a Trustee, Member of a Business, POA, or Personal Representative, please include your designation / title following your signature on ALL documents.

Example: John Smith, Trustee, John Smith, Managing Partner, John Smith. POA.

What to expect after providing the requested documentation

Once all supporting documentation is received and your Change of Ownership is verified, a new account will be created, or interests will be transferred to existing account owners. Owner’s will receive a division order to confirm interest type, net revenue interest in the well, and working interest expense, if applicable. New account owners, or the interests transferred to existing account owners, will remain in legal suspense until signed division orders are returned.

All owner questions and requests may be expedited through email: owner.relations@ownresources.com, but we can also be reached by phone: (970) 332-3585 M-F, 7-4 MT, fax: (970) 332-3587or written request: PO Box 250 Wray, CO 80758.

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