Anyone know of any activity in coal county, section 2? I had an inquiry from Greenwing. Last time (3 years ago) I leased for 500/ per acre.
You need to give the section, township and range. There are many section 2’s.
I apologize, important detail. Section 2-2N=9E. Was sent order of Payment with the 60 business days clause. I’ve never seen this, previous lease agreement with others was within 15 days. I’m a little hesitant with this. Any input?
I understand that they need to do their title work, but that is way too long in my opinion. 15-30 is better on timing. But many of us will never hand over a lease without being paid. In the old days, the bank would hold both the lease and the draft. When the money showed up, the lease would be handed over. Not so many banks do that now.
What many of us do now is agree on lease terms (after negotiating out the bad clauses and putting in the good ones) and then sign and notarize the lease. We send a copy of the signed lease with COPY DO NOT FILE in big black marker on every page (especially over the signature) to the lessee by email scan and have a neutral third party hold the actual lease until payment is received. (Keep copies of everything) A bank, an accountant or attorney can hold the lease. You do not want your lease filed at the courthouse without you getting paid. I am reasonable (I think) with my time frame. If they do not show up with the lease money in 20 working days (or whatever we can agree on), I can reclaim my lease from the third party and start over again.