I will try to keep it short.. Have 3 year lease with 2 year extension. Extension date came up and recieved no check. As stated in lease ( payment will be on or before date of extension).Recieved a check 1 1/2 months past due date . But check was dated before extension date. They said they sent it to me and was returned, but could provide no proof . They (the oil company) says they are in the right and will not release my lease.
1. Check was not recieved (on or before date of extension)
2.They sent 1099 for 2017 but I did not recieve check until 2018
3.They mispelled my name on the check and the 1099
4.They want to compromise and send and additional check for a few thousand more. So I would have to cash the original check they sent, And they would send me another check for the (compromise bonus).
5. I have not cashed the check.
The lease is worth at least twice of what they are offering.
My lawer is working on this ,But am curios if anyone else has experienced this and what was the outcome. Any and all advice appreciated.
I wish you luck. I would not cash the check. I would send it back and tell them to sent total payment for the bonus in one check. If you cash the check, then you have accepted payment and will probably never get another check. Sounds like they may have forgot the bonus extension, but I don't know how you are going to prove it. What is your attorney doing? Setting on it or is he really working?
Next time you lease, ask for payment of any extension to be mail Certified 30 days ahead. I don't like extension and try not to lease that way.
I had similar issue with a large oil company which I filed a quiet title and trespassing suit against when a well was drilled. If they have proof they sent payment in 2017 before time expired their lease is valid even if you didn't receive prior to that date. Your (payment will be on or before date of extension) refers to mailing date, not receiving date. Mine stated (by certified mail) and as it turns out it can be sent by any mailing not just USPS certified, FedEx is sufficient. I had filed an affidavit on the lease being expired the day after the expiration date. The misspelling I would be curious if that would be a sticking point and they need proof it was originally "mailed by" the date of expiration.
the extension ended in december 2017 . the check was mailed feb 2018 postmarked and certified
Thank you Mineral Joe the extension ended in december 2017 . the check was mailed feb 2018 postmarked and certified.
You said they told you they originally mailed in 2017, if they have proof then it may come down to the spelling of the name.
No proof, asked them several times to prove it they can't or won't.
I'm dealing right now where my relative received a 1099 even though she paid the money back after they realized it was hbp. Sounds like it will be difficult to get your lessee to do a correction 1099.