IF FUNDS ARE BEING HELD FOR A DIVISION ORDER, WILL BE THERE INTEREST PAID ON THE MONIES BEING HELD?
Karen,
Your share of the production is being held in ‘suspense’ until you execute and return a division order. If your lease demands interest to be paid on the withhled monies, then yes.
Chase Independent landman
The lease was signed only by the usufructuary on two different leases. One of which was being held, the other lease has been paying royalty paments to her and bonuses. When I contacted them and sent the JOP, they said they needed us to sign a ratification.
Chase said:
Karen,
Your share of the production is being held in ‘suspense’ until you execute and return a division order. If your lease demands interest to be paid on the withhled monies, then yes.
Chase
Independent landman