Can anyone tell me how long does it take for the draft lease bonus check to clear to your bank?

Views: 40

Replies to This Discussion

It depends, if there are title problems that need to be fixed that could delay payment. Some banks, mainly out side of Louisiana, don't know what to do with a draft. I saw a bank in California sit on the draft for 2 months before sending it back to the person with a note saying they didn't know what to do with it.
In my case, a check took six days.
If I recall correctly, it was about two weeks.
When I took my draft lease bonus to my bank, they told me it would take about 15 days. It actually took about 15 business days to clear....
Thanks everybody for the info. It did take about 15 days to clear .
Mrs. Sunshine,
Do you mind sharing with us what leases in RRP are fetching these days? Thanks.
Henry, I think and was told that 5,000.00 is the going rate. My acerage is small. No drilling will be done on my place. But I did want to sign a lease so I can began receiving royalty checks each month or however they send them out.
It should take about 3 weeks. Check with the main branch of your bank because they have a tendency to sit on them. My land man was actually quite helpful with most of my questions concerning the process.

RSS

Support GoHaynesvilleShale.com

Not a member? Get our email.

Groups



© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service