What is a Paid Up lease, exactly?
Is this new? I haven’t found any information yet about it.
Are there pros and cons?
Is this negotiable in any way?
Thank you for any replies.
Hello Bradlee,
About halfway down on the main page of Mineral Rights Forum you will see the word Search. In that area type in ‘Paid up Oil and Gas Lease’ and hit Search and you will possibly find some answers to your question.
Good luck.
Commonly used on smaller tracts. Means there are no rentals due during the primary term of the lease. This is used primarily on smaller tracts of land. The “rentals” have been included in your $$$ you received when your lease was finalized.