Guides to Leasing
Always consult a qualified attorney to help you with your lease.
Remember, the lease will probably last for decades. You need to take a long-term view of the impact of the lease.
Prospective purchasers of your land will take a hard look at the terms and conditions of the lease, if and when you decide to sell the property.
Be certain of the status of your oil and gas or mineral rights. Be certain they are yours to lease.
If the land is subject to a mortgage, contact your lender BEFORE you sign a lease. The mortgage may require you to secure their consent.
If it is worth promising verbally, then it is worth putting in writing into the lease!
Research the people who are offering you the lease. Ask them for their website address or other information to allow you to find out more about them.
Negotiate, negotiate, negotiate; if you don’t ask, you’ll never know.
Check to see what deduction, if any, the producer wants to take from the royalties. It can make a huge difference.
Just because your neighbor did something does not mean you are required to do the same.
If you would like to download this guide in PDF format, please click here: Guides to Leasing.