We can pay off the land but it will take about 10 days and the Landman needs it wrapped up in about 5 days. If we lose this deal will there be others?
John Burman said:
If you pay off the loan, make sure to have the sellers provide you with a vesting document (Warranty Deed) then contact the leasing agent. At your earliest convenience, I would record the vesting document in the county records against your tract of land. Unless there are any outstanding title defects you should be in the clear for bonus payments at that point. Again, many companies might pay lease bonus off of a contract, but it is risky for the leasing agent to do so.