I recently received a lease for two Grayson Cty, TX properties. Interestingly, there are three points which I am mentioning here. (1) I don't recall ever receiving a lease for two properties combined. (2) Since when did land companies start offering a percentage of the royalties, rather than the standard 3/16, 1/8, e.g.? This offer is for 15 percent. (3) The legal description on one of the two properties is only partially correct. Comments, please. Has anyone following this thread leased in Grayson Cty recently. What kind of offers/acre did you receive? This lease has a primary term of 5 years plus a 3 yr option....is this something newer as I have never dealt with a 5 year primary term.
Possibly a scam. Sounds like something to be filed in the trashcan.
Sheri, you really don't want to lease two different properties on a single lease form when it's THEIR lease form. If they complain about not saving a $50 filing fee? Tell them you will pay it, the natural fire wall that two separate forms provides is more than worth it. I doubt they will ask you to pay for the second lease recording, paper and ink but I wouldn't put it totally past them either.
There has been a very deceptive "lease" offered by various landmen which includes the term "25% of royalty" or "1/4 of royalty" as opposed to 25% royalty. The difference is that you will only receive 1/4 of the 1/4 royalty = 1/16. The lessee will keep the other 3/16 of the royalty. You must very careful about understanding all of the terms in any lease form which is presented to you.