I signed a lease with Ascent and part of the contract is that they have 120 days to pay the bonus payment and I wanted to see if anyone that has dealt with them could tell me if they typically take the full 120 days or do they pay out faster?
Thanks in advance
I have not dealt with that company but 120 days is outrageous. Next time, do not sign anything that gives them time to "shop it" around. Their title search should have already been completed at least up to a point that your interest is known. Our leases are signed with a copy scanned-sent via email. The original remains in our hands until a check is send/delivered to us. Then we send snail mail. This may not work for all parties but for us it is policy.
That is insane, never heard of that before. Next time only swap a signed lease for a check, not a bank draft or anything else of that sort.
120 days is not standard. Most companies take 30 days minimal.
I appreciate the information, I guess I should have asked before signing but its done now so I guess I get to wait.
No fault of your own, you live and you learn as a mineral owner.