Hello,
My grandmother owns rights to over 100 acres in Toole county MT. I'm trying to help her to see if the lease she's been offered is fair, but I'm very new to this and would apperciate any advice you all have. I just don't want to see my grandmother get the short end of the stick and sign anything without looking into it.
They are offering 20/acre at signing and 1/acre per year for a five year lease. To the best of my understanding she has 100% of the rights.
Thank you much in advance!
Stephanie:
I checked the March mineral sale for Montana and found that the bonus/acre in Toole County ranged from $1.50/acre to $240.00/acre depending on where your minerals are located. You didn't state the area in Toole County these minerals are located in (Township/Range) but you can google Montana Minerals Mangagement and obtain information on what minerals leased for over the last several sales. These amounts are most likely higher than you will recieve but it will give you a ballpark figure. I would advise not to lease for 5 years as I would not lease for longer than 3 years. Also, you might want to review other posts on this forum regarding lease contents in order to better educate yourself on negotiating a lease.
Thank you for your response. I will look into both of those.