Oil and gas companies send royalty payments to the state comptroller when they are unable to find rightful owners. HB724 created a commission to establish guidelines and procedures to find rightful owners to unclaimed land grant mineral proceeds.
The current procedures and the proposed procedures call for lengthy and expensive measures. Most descendants and heirs who have a legal right to the money do not have the means or "know how" to petition for this money.
For 5 or more decades large groups of Texas families have been trying to fight this issue in courts across Texas to no avail.
HB724 will expire on 7/1/15. It is time for change in the judicial process to expedite and facilitate proceedings and get the royalties to the rightful heirs and descendants.
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