My family has been contacted for setting up a lease in Township 7 North, Range 58 West 6th P.M.. First of all, the company Vecta has offered us $60 an acre. Does anyone have the going rate for this area as this is what Vecta told us it was as of last Thursday.
Secondly, Vectra doesn't seem to want to listen to us and get the lease correct. This has been going on since last summer and we have made mulitple contacts to them and they resent a lease to sign with incorrect information again. When we have a grandfather (Will) owning rights for certain sections that upon his death, the rights were forwarded to his three children. My father's share will be split between 4 kids. My two aunts have the other 2/3. Now, My dad (Dale) also had rights also in the same area. His rights are to be divided between 4 kids. Vecta insists on putting ALL the sections together and giving all the lease rights to Dale's kids. Vecta doesn't want to listen. I feel the rights of Will should be on one lease segregated from Dale's which should be on another lease. Am I correct?
Also Vecta registered the first lease signed by my brother even though we discovered that it was incorrect after it was mailed but before Vecta even received it. My brother told them to void this lease as the information was incorrect. They did it anyway. Because of the incorrect information, is it still valid? Is this lease binding us to this company?
My brother resides in Canada and is too busy working to really deal with it so it has been placed in my "idle" hands to deal with. Any words of wisdom would be very helpful.