We own land, some outright and some fractional interests, in north Louisiana and I agreed to business terms for a mineral lease on a tract where we own a 6/84 interest. I have the "execution" copy from the broker and noticed there was no signature block for the lessee. I asked the broker and was told that was typical under Louisiana law, the lessee would only need to sign if this was a memorandum of lease, not an actual lease. Seems odd to me. I'm in real estate in Texas and leases aren't valid unless signed by authorized reps for both parties. Am I getting good information here?
You are getting good information. This is not, strictly speaking, a lease - whether in Texas or Louisiana.
An Oil and Gas Lease is both a contact and a conveyance of mineral rights. Not a lease. The Lessee accepts the contract by their actions.
Having said that, I require the Lessee to initial every page and execute the lease. It's just good business.
Best,
Buddy Cotten
Thanks Buddy - very helpful confirmation