Signed a lease on March 2016 for Minerals in T 10N R 05W . Normally
I receive a Bonus check within 30days of signing; however, we are now a good 70 days without
the Bonus. I did check with the County Web Site and the lease has been filed, and called
the landman and he said the checks are going out slowly.
The lessee is not a oil company, but appears to be a private LLC.
Anyone else had an experience like this? Is it time to contact a lawyer?
You can lose some rights if you don't act within 90 days. File a drillers lien or whatever the lawyer tells you asap.
Not to worry -- turns out some additional work is needed on the lease document -- Thanks for the heads up
Call the lessee before the attorney. You probably have someone who took your lease hoping to turn it to a company for a profit......and could not!.He may not be able to pay without first selling it.....IF that's the case he will probably tear the lease up and that's that. Otherwise, call (and pay) an attorney.
Bud,
Remember it's always important to consider the lessee before signing the lease. I just wrote about this very subject tonight.
Parker
If the lease is recorded, the lessee can't just tear it up as you have been advised, a release of lease would be required.
I do not normally advise to contact a lawyer. That being said, and from the info you have provided my suggestion is CALL A LAWYER TODAY!
If the lease is recorded you could record a statement of non-payment referencing the lease thus you would cloud the deadbeat lessee's title to your minerals and making it extremely unlikely that they could make money from your minerals.
If the lessee actually came up with the money or suitable incentive for you, another document could be recorded ratifying the lease and un-clouding the chain of title. If you cloud it, you can un-cloud it. I would have a lawyer draw up the statement of non-payment, I doubt they would charge much or I would find a different lawyer, but it is conceivable that you could create and record the statement of non-payment yourself.
Hopefully you got paid on it. I know a good company that has done leases for me and theyve always paid me the day we signed the lease. If you need any help let me know.
It’s a good idea to not give them the original copy of the lease until you receive the cashiers check ( or make sure it clears.). I give them a copy of the original lease with" DO NOT FILE" written on it for them to use to research the title in the 20-30 days they want before a check is issued. After the check clears I send the original signed lease to them.