The Oklahoma Bar Journal May 2024

with location and 2) exclusion associated with status.

of Indian descent from a feder ally recognized Indian tribe, any interest in land that is held in trust by the United States for an individ ual Indian or tribe – or that is held by an individual Indian or tribe and can only be sold, transferred or otherwise disposed of with the approval of other individuals, their tribe or an agency of the federal government – shall be excluded from resource determinations. 2 Exclusions Associated With Status Royalty-producing mineral interest exclusion (up to $6,000). In the 6%/$6,000 royalty-producing interest exclusion, up to a $6,000 resource value of the mineral interest is excluded from con sideration. Mineral rights not

the purposes of providing such valuations, Oklahoma Human Services addresses three basic cat egories of mineral interests and applies a set formula for valuing each. Being aware of these val uation formulas and potential resource exclusions can make the valuation process much easier to navigate. Beginning with exclu sions and proceeding through specifics for each valuation cate gory, guideposts, pathways and speed bumps follow. GUIDEPOST 1 – EXCLUSION OF MINERAL INTERESTS AS A RESOURCE Exclusions of mineral interest resource value fall into two basic categories: 1) exclusion associated

Exclusions Associated With Location Home property exclusion. In the home property exclusion, mineral rights associated with the home property are consid ered along with the surface rights and are excluded as a separate resource. 1 Their valuation is concurrent with that of the home property, such that if the home property is valued as a resource, the value of the mineral interest is already considered included; if the home property is excluded as a resource, so is the mineral interest. Tribal lands exclusion. In the tribal lands exclusion, for any indi vidual (and spouse, if any) who is

Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff.

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THE OKLAHOMA BAR JOURNAL