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Division Order Oklahoma - Am I Required To Sign To Be Paid?: What You Should Know
Stat. Ann. Tit. 9, § 836D) Failure to execute a division order to provide that purchaser with a DO after the mineral interest owner is paid that purchaser's settlement offer. This could result in a chargeable judgment if Division Order is subsequently found by a court or arbitrator to have been violated. Exceptions The Oklahoma Bar Journal (Oct 17, 2021) states Failure to execute of division order. Failure to execute of division order by the mineral owner prior to the payment. Failure to execute of division order within ten (10) days of payment (including delivery of title), if the Division Order does not provide for the payment of the amount due within ten days of paying the amount in the division order. No Division Order Your mineral rights are not bound up by a division order signed to acquire title or mineral interest in the property or minerals. An Oklahoma statute limits a mineral owner to a right of access to a mineral interest. DID # Title. The only way to acquire title to a mineral interest is to own the natural resource. If a mineral property is on a lease, a mineral owner has no right to access the mineral interest under a mineral lease. A mineral owner can negotiate the terms of the mineral lease with any party who wishes to buy natural resource ownership. A mineral lease is an agreement made between a mineral owner and a non-resident who is not an Oklahoma resident that provides the non-resident with a mineral interest in the property. A lease generally provides that the lease takes title to the resource and is the owner of and the lessee of such mineral interest. In Oklahoma, Title 836D, Section 838 provides that a mineral owner does not have to register to claim a mineral interest. Title 836D, Section 838(j), provides that the state has the power to register a claim by the mineral owner. The DID # will not be recorded by the Secretary of State.
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