Best Practices for Mineral Owners
Best Practices for Mineral Owners
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We dedicate 10% of our time in the support of other mineral owners. This includes insights on how they may want to incorporate a Best Practices Program as well as providing email responses on more specific issues.
We dedicate 10% of our time in the support of other mineral owners. This includes insights on how they may want to incorporate a Best Practices Program as well as providing email responses on more specific issues.
The primary issues we see with other mineral owners stem from inconsistent document management, communications and review process. Taking the time to implement a Best Practices Program will alleviate those issues and allow for better decisions.
Communications is maintaining a consistent email address, phone number and postal address as your backbone. Keep your oil and gas purchasers up to date on any related changes. If you change your postal address often, consider a post office box for greater security. In some cases we suggest filing an affidavit of current address in counties where properties are located.
Communications is maintaining a consistent email address, phone number and postal address as your backbone. Keep your oil and gas purchasers up to date on any related changes. If you change your postal address often, consider a post office box for greater security. In some cases we suggest filing an affidavit of current address in counties where properties are located.
We suggest email over postal communication since it is more efficient, simplifies a communication thread and maintains a digital record. Maintaining notes on phone calls can be done easily in your phone or computer Contacts App.
We suggest email over postal communication since it is more efficient, simplifies a communication thread and maintains a digital record. Maintaining notes on phone calls can be done easily in your phone or computer Contacts App.
Document Management is an essential part of Best Practices. Garner Minerals has a goal of 100% paperless operations. Maintaining records on communications, documents and research is invaluable in order to prevent future property management problems.
We highly recommend establishing a digital filing system that is simple and straight forward. Whether you use a local computer, laptop, iPad or you use an online system like Google Drive the goal is to keep it simple and be consistent. Watching a YouTube video on how to use your phone to scan documents is a great use of 15 minutes.
Review your properties prior to entering into any transaction and be patient. We review all properties at least once a year regardless of activity levels.
Do you feel like you do not have access to the same information as professionals? In many cases you may not, but most States provide a wealth of property research information for free. Take the time to learn what is available related to your properties.
Check unclaimed property websites in States annually where you own property and also where you live. It takes just a few minutes and you could discover money owed to you for a small time investment.
Have Questions?
Have Questions?
Send us an email with your questions to info@garner-minerals.com. We respond to these email inquiries in the order they are received. Please be patient. We get many inquiries and only have a certain amount of time allocated for responses.
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