What is a division order?
A division order is a directive signed by the royalty owner verifying the purchaser or operator of a well and the decimal interest of production owned by the royalty owner. Also, it provides the owner’s address and tax identification number (TIN).
How do I transfer my interest in a property?
Interest may be transferred by a deed or, when appropriate, an assignment. The deed or assignment must be recorded in the county where the property is located. Carrizo must receive a recorded copy of the deed or assignment before changing our records and issuing Division Orders. You may want to have an attorney prepare these documents.
What happens if I change my address or marital status?
Address changes must be received in writing. Please send changes to Carrizo Oil & Gas, Inc., Attn: Division Order Department, 500 Dallas Street, Suite 2300, Houston, Texas 77002. Please include your name, old address, new address, social security number and signature, and if you have been receiving revenue payments your six digit owner number reflected at the bottom left hand corner of your check detail. Please send a copy of your marriage certificate to update your name as a result of marriage or a divorce decree if your last name changed due to divorce.
What happens when the interest owner of a property dies?
After Carrizo is notified the deceased owner’s revenue will be held in suspense pending receipt of the proper probate documents and/or affidavit of death and heirship. Upon notifying Carrizo you will be sent a letter describing what must be received to transfer the interest of the deceased owner to the appropriate parties and an Affidavit of Death and Heirship form if necessary.
When are royalty payments suspended?
For your protection, payments are suspended upon a title dispute, assignment of interest, notice of death; transfer of property, or in the event of no known address. Keeping your information current can prevent this inconvenience.
When will I be paid?
Payments will be made monthly to all owners with cumulative balances of $100 or more at the end of each month. Balances less than $100 will be released in December of each year so that payment is made at least annually.
What do I do if my check is lost, stolen, or becomes outdated?
Please allow (10) business days for your check to arrive in the mail. If your check is lost, stolen or becomes outdated, please call 877-341-2699.
Where can I research unclaimed funds?
Each state makes an effort to locate rightful owners of production revenues through publication, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the National Association of Unclaimed Property Administrators ("NAUPA") website at www.unclaimed.org
What type of annual statements will I receive from your company?
Royalty interest owners receiving more than $10 annually receive IRS form 1099. This summarizes your total payments and tax withholdings for the previous year.