forming a unit question - GoMarcellusShale.com2024-03-29T14:01:24Zhttps://gomarcellusshale.com/forum/topics/forming-a-unit-question?commentId=2274639%3AComment%3A789796&x=1&feed=yes&xn_auth=noI doubt they will have to pay…tag:gomarcellusshale.com,2018-11-30:2274639:Comment:7897962018-11-30T15:21:52.415ZG.H.https://gomarcellusshale.com/profile/GH930
<p>I doubt they will have to pay it back. Generally, oil and gas companies pay bonuses based on the deeded acreage (number of acres that the deed records say the property contains). I have not personally heard of them asking for bonus money back in a situation such as this... not saying it couldn't happen, though. However, future payments may be based on the lower acreage they found in their survey, and royalties will definitely be based on that new lower acreage.</p>
<p>I doubt they will have to pay it back. Generally, oil and gas companies pay bonuses based on the deeded acreage (number of acres that the deed records say the property contains). I have not personally heard of them asking for bonus money back in a situation such as this... not saying it couldn't happen, though. However, future payments may be based on the lower acreage they found in their survey, and royalties will definitely be based on that new lower acreage.</p> Nancy thank you for your repl…tag:gomarcellusshale.com,2018-11-30:2274639:Comment:7897062018-11-30T13:23:11.732Zwilliam george allisonhttps://gomarcellusshale.com/profile/williamgeorgeallison
<p>Nancy thank you for your reply.these elderly couple are into their second term on bonus money and not drilled yet as far as I know .unfortunately the access bonus money on land that doesn't exist was in their favor WILL THEY HAVE TO PAY THIS BACK? you would think the oil & gas company would make sure the land exists before they pay out.they have been paying taxes on this land since 1999</p>
<p>Nancy thank you for your reply.these elderly couple are into their second term on bonus money and not drilled yet as far as I know .unfortunately the access bonus money on land that doesn't exist was in their favor WILL THEY HAVE TO PAY THIS BACK? you would think the oil & gas company would make sure the land exists before they pay out.they have been paying taxes on this land since 1999</p> If the company did a survey f…tag:gomarcellusshale.com,2018-11-30:2274639:Comment:7899402018-11-30T05:09:43.421ZNancy Mosleyhttps://gomarcellusshale.com/profile/NancyMosley
<p>If the company did a survey for the unit map, probably they will find the correct acreage during the process of title work for the Division Order. But just in case, the royalty owners should get this looked into. I'd start with the Assessor for the county, to get the tax ticket corrected. Also contact the company with the information and see if someone there can correct things. Maybe get paid correctly for the bonus money. And to make sure that the correct acreage is known when preparing the…</p>
<p>If the company did a survey for the unit map, probably they will find the correct acreage during the process of title work for the Division Order. But just in case, the royalty owners should get this looked into. I'd start with the Assessor for the county, to get the tax ticket corrected. Also contact the company with the information and see if someone there can correct things. Maybe get paid correctly for the bonus money. And to make sure that the correct acreage is known when preparing the division order.</p> wv mineral owner said that th…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7897922018-11-29T20:02:02.565Zwilliam george allisonhttps://gomarcellusshale.com/profile/williamgeorgeallison
<p>wv mineral owner said that the oil & gas company physicaly servey all parcels in a unit im not so sure bout that or they would have caught this mistake on the servey map</p>
<p>wv mineral owner said that the oil & gas company physicaly servey all parcels in a unit im not so sure bout that or they would have caught this mistake on the servey map</p> yes that is correcttag:gomarcellusshale.com,2018-11-29:2274639:Comment:7898532018-11-29T19:29:11.203Zwilliam george allisonhttps://gomarcellusshale.com/profile/williamgeorgeallison
<p>yes that is correct</p>
<p>yes that is correct</p> Are you saying that the 1999…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7896952018-11-29T19:13:26.817ZNancy Mosleyhttps://gomarcellusshale.com/profile/NancyMosley
<p>Are you saying that the 1999 survey shows a different acreage than the tax ticket acreage?</p>
<p>Are you saying that the 1999 survey shows a different acreage than the tax ticket acreage?</p> thank you Nancy these are eld…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7899372018-11-29T19:00:55.110Zwilliam george allisonhttps://gomarcellusshale.com/profile/williamgeorgeallison
<p>thank you Nancy these are elderly people im trying to help out this land was surveyed in 1999 before the oil & gas people showed up . their tax ticket shows more land than the current servey map shows more than 7 acres more. the oil & and gas company leased what the tax ticket showed and according to the recent servey done by an independent surveyor the 7.8 acres doesn't exist </p>
<p>thank you Nancy these are elderly people im trying to help out this land was surveyed in 1999 before the oil & gas people showed up . their tax ticket shows more land than the current servey map shows more than 7 acres more. the oil & and gas company leased what the tax ticket showed and according to the recent servey done by an independent surveyor the 7.8 acres doesn't exist </p> I have contacted the Assessor…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7898502018-11-29T18:34:04.757ZNancy Mosleyhttps://gomarcellusshale.com/profile/NancyMosley
<p>I have contacted the Assessor's office when I found a survey which corrected the original survey with a little more acreage for a tract I have an OGM interest in. The assessor reviewed the information and corrected it on the tax ticket description. I forgot how long it took. Not immediate.</p>
<p>I have contacted the Assessor's office when I found a survey which corrected the original survey with a little more acreage for a tract I have an OGM interest in. The assessor reviewed the information and corrected it on the tax ticket description. I forgot how long it took. Not immediate.</p> ok that makes sense but the a…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7896932018-11-29T17:28:50.896Zwilliam george allisonhttps://gomarcellusshale.com/profile/williamgeorgeallison
<p>ok that makes sense but the assessors office shows a different amount of acerage than the servey map after the sale so who is at fault the assessors office or the surveyor .the servey was done prior to the sale and before any gas lease </p>
<p>ok that makes sense but the assessors office shows a different amount of acerage than the servey map after the sale so who is at fault the assessors office or the surveyor .the servey was done prior to the sale and before any gas lease </p> Yes, there is a physical surv…tag:gomarcellusshale.com,2018-11-29:2274639:Comment:7897852018-11-29T16:31:13.133ZWV Mineral Ownerhttps://gomarcellusshale.com/profile/WVMineralOwner
<p>Yes, there is a physical survey done with each unit.</p>
<p>Not sure about the sellers responsibility, but when a deed is filed (Buyer) it is also provided to the Assessor's Office which makes the change. That said, it can take up to two years, depending on the county, to get the taxes switched to the new owner's name.</p>
<p>A word of advice to any OGM buyer... Make sure you contact the Tax Office if you do not receive a tax statement for a piece of property that you purchased. In WV, the…</p>
<p>Yes, there is a physical survey done with each unit.</p>
<p>Not sure about the sellers responsibility, but when a deed is filed (Buyer) it is also provided to the Assessor's Office which makes the change. That said, it can take up to two years, depending on the county, to get the taxes switched to the new owner's name.</p>
<p>A word of advice to any OGM buyer... Make sure you contact the Tax Office if you do not receive a tax statement for a piece of property that you purchased. In WV, the owner is responsible for paying taxes, even if you do not receive a tax bill.</p>