Under paid lease bonus
We feel that we got screwed on our lease. We have leased our 75 acres from time to time for $75 to $100 bucks per acre. We do not live in the area though we have a house there. We didn't think it unusual when we got an offer for just a little more than before so we just signed the lease and sent it back. This was toward the middle to the end of March. Right after that we went up to check on the farm and visit my brother Gilbert Aaron and found out things were hopping. My question is has anyone been able to break or renegotiate a lease because they were not properly informed?
Views: 189
Replies to This Discussion
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Permalink Reply by Dorcheated A1 on -
HBP
What about those guys in Cedar Grove trying to buy lots for a $1,000 bucks. I guess they don't know whats under there either.
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Permalink Reply by Grillin' - MmmMmm on -
$1000 per lot...not per acre. Works out to a decent offer per acre, doesn't it???
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Permalink Reply by HBP on
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If they are doing it now, then you are correct, that is wrong. I am only talking about the leasing that had taken place for the cotton valley formation over the last 3 years or so. IF your landmen cannot answer your questions properly today, then you should seek another. I understand Cedar Grove is its own situation. Were they just paying them the 1000/acre or was the 1000 just a bonus in addition to an actual market price per acre??
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Permalink Reply by po boy on
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I have owned businesses in the Cedar Grove area-most of the lots are 1/4 acre and a great deal of the area is rental property. A $1000.signing bonus on a 1/4 acre, heavily populated residental area is probably more PR value than actual lease value. What is your thinking?
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Permalink Reply by Mom A1 on
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Misleading information IS like twisting one's arm...Tim, you are way out of line! You do not know the whole truth in this situation.
How would you feel if you had no idea that a surgeon was about to take out your gallbladder or your liver but you hoped he took out the right one? You would feel betrayed and hurt if they took out your colon instead...am I right? Doomed to poop in a bag the rest of your life, plus have another surgery to hopefully fix what went wrong. Same thing here...
It's just that companies are taking people's money and not telling them the whole truth behind what they are doing. It's action without full disclosure. It should be illegal.
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Permalink Reply by intrepid on
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MomA1, really, those aren't anything like the lease bonus issue. It's a shame that someone left money on the table that they didn't know abouyt but it's gonna happen. Whoever leases now, even at the much better rates, may wish they had waited. How long will you wait? Could you possibly wait too long? Is it an absolute certianty that just waiting will always make you an instant millionaire?
My last offer was ten times what my first offer was. I haven't taken it but I'm not absolutely guaranteed that I'll get more. There is a limit - just don't know where it is yet.
Anyone who has leased should just stop worrying about what they didn't get and look forward to their production payments. Especially if they just got a lease in the mail and signed it and sent it back.
Good Luck to Dan. I hope he gets a lot of money from his lease.
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Permalink Reply by Tim on
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That is so far off. There was not gun to your head. If you did not feel something was weird when someone out of the blue offers you money, then you need to be taught some common sense.
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It all comes down to this - Personal Responsibility!
Unfortunately not many in this country have it any more.
Please stop all the pointing of fingers and for once say "I messed up, and I will never let this happen again"
America and Americans could be so much more efficent.
Does any one else agree?
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