Replies to This Discussion

Permalink Reply by elgato on July 20, 2008 at 7:04

ledlights: key word there is familiar. Does being a member of a discussion group beget familiarity, or just contempt for professionals?

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Permalink Reply by ledlights on July 20, 2008 at 7:30

I do not have contempt for professionals. I do have contempt for professionals who take advantage of ignorance - either O&G pros or lawyers. Professionals can provide valuable services and make a very good living without taking people to the cleaners. As you have stated that you think 5% to be excessive, we may not have so much to dispute between our positions. Without a fair amount of familiarity with this process I would recommend the participation of a trusted lawyer in the negotiation of a lease. And if you see anything that you don't understand completely, a lawyer's review before acceptance is probably a very good idea.

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Permalink Reply by ez on July 20, 2008 at 6:44

there are also lawyers doing this for flat rates not all are doing the % thing.

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Permalink Reply by elgato on July 20, 2008 at 7:17

Wherein lies the difference? There is a certainty about a percentage-based fee that does appeal to some clients.

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Permalink Reply by elgato on July 20, 2008 at 6:54

That's right I am driving the bus...that's how I know you missed it.

Despite my recent discourse...I do feel that 5% is excessive. Three percent is typical for estate/settlement work and I think that is proper. A 5% claim upon your client's royalty interest is horrendous, and colorably, places that attorney with an interest in his client's litigation/business which should be avoided.

Note well that a lot of landowners out there are not as 'informed' as the ones that lurk on this board. I commend all of you for self-help, but - alas - it is too late for that cousin to call me.

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