Oil & Gas Mineral Rights / Royalty Stream near Plainville, Steele Township, Daviess County, Indiana!

Description

Item Id: Paul-Gallagher02
Case Name: Paul, Mary Vyverberg (fka Mary Gallagher)
Case Number: 17 00498
Trustee:
Starting Minimum Bid: $1,595

Description: Oil & Gas well mineral rights near Plainville, Steele Township, Indiana in Daviess County. Debtor holds interest in the rights and the royalties. The current Oil/Gas lease holder is CountryMark of Indianapolis, Indiana. The location is near Terre Haute, IN, which is located in southwest Indiana

The Legal Description is: “Beginning at the northwest corner of a plot of land (and runs for four pages) along with ‘Plainville Units 8 & 13………..southeast quarter of Setion 2, Township 4 North, Range 7 West……………………..’

The lease operator is currently CountryMark Cooperative. Royalty payments to the debtor averaged $419.92 on a quarterly basis through to 4Q16. The Account # is- 132853. The Lease # is 21046, and is still active. Drilling and production continues per the County Assessor.

CountryMark maintains a contractual relationship with Gwaltney Drilling (of Washington, IN) who provides drilling services for CountryMark at the Plainville #8 site. The fees for this drilling are billed to each investor by Gwaltney. The debtor was paying $3.00-$4.00 monthly (on average, per Gwatney) for their share of the drilling services. The last payment made by the debtor was in 1/2017. The account with Gwaltney and the CountryMark lease is due $89.36 as of 6/30/18. This must be paid to Gwaltney before CountryMark resumes royalty payments when earned. The Gwaltney Customer # is 2250 on the account for the debtor.

The debtor has been in ill health for two years and did not provide forwarding addresses to her investments and leasing contracts. As a result, payments/invoices were returned to the Sender who placed a hold on the account by the leasing firm. For this reason, royalties are only known through 2016 as payments ceased when USPS mail was returned as undeliverable.

The deed is in the name of the debtor’s late husband and was inherited by the debtor. A copy of the Will and Death Certificate will be provided to the winning bidder for recording with Daviess County. This auction is for 100% ownership.

Division Order
Paul02 – Countrywide Plainville Lease..00488200

Payout History: Note ONLY #21046
Daviess County IN Payment Stream

Notes: A document preparation fee of $275 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on BKAssets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Legal Info: By Order of the United States Bankruptcy Court, Bkassets.com sells this and any other property “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property or rights, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this property/rights after the sale including but not limited to: paying any fees/costs associated with this property/rights, paying all fees/liens (if any), recording/transferring the title/deed/lease and gathering any paperwork/documentation necessary for that process. Seller and trustee are NOT appraisers or oil/gas brokers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment or deed as required by Daviess County. All the information as to the item description has been provided by the court. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Wells Fargo, Bank of America, Chase, Citibank, a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.

A document preparation fee of $275 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.
Shipping Info: Shipping is included to all buyers in the United States. International bidders are welcome, please contact Bkassets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We are not aware of any liens

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..