IF AN ATTORNEY OFFERS TO PAY YOU BONUS MONEY FOR YOUR LEASE?
My neighbor just got paid bonus money from an attorney in my area. He gave him a bonus check less his fee for his 1/4 acre and he said he signed a lease for 25% royalty for 3 years. Now we have not been approached in our area by any O&G company. Is this something that our area should do (get the bonus money from the attorney) or should we wait and see if we get contacted by an O&G company as the attorney might know something we do not? I am concerned that the attorney could possible flip this if he gets enough property signed and sell them again for a higher price. Can this be done?
Views: 48
Replies to This Discussion
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Permalink Reply by RAY on -
of course the lawyer is going to flip it for a higher price.
is he offering a good price?
a CPA in our neck of the woods leased acreage for $15,000 per / 25%.....and charged a 4% fee. alot of people took this offer and are happy with the deal.... others said they would never do such a thing
do what you think is best for you & your family.
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Permalink Reply by crazycat on
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$7,500.00 for 1/4 acre and I own 1.5 acres. He charges a $300.00 fee if less than and acre and $500.00 if an acre or over. We just wondered if after this the attorney now owns the lease and will he sell it for a higher price?
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Permalink Reply by Troy & Kim Hasty on
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sounds fishy to me... how much was the fee?
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Permalink Reply by M. Mcwilliams on
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It sounds like the attorney is brokering the deal - finding the company who wants to buy a lease on that property and charging a fee for finding the company, perhaps also for negotiating the lease. What does your neighbor say they hired the attorney to do?
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No one hired him, my neighbor just talked to the gentleman who did the same thing. No one has approached us with any offer at all.
We all have quite a bit of property but when I asked him which O&G company and named Chesapeake, Petrohawk or some of the others he could not remember. This attorney seems to be just taking individuals that come into his office. He said he called and made an appointment and showed him his deed and the attorney cut him a check right then for $7,500.00 for his 1/4 acre and he cashed it and then came back and paid him his $300.00 fee. That quick!
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Permalink Reply by M. Mcwilliams on
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Ok, I just saw this post after I responded down the thread. Again, whether this is a good deal or not, or what this attorney is doing with clients, none of us here can say. We can't tell how truthful your neighbor is being with you about how his deal went down. If you're interested in the same type deal your neighbor got, make an appointment with the attorney. If you're skeptical, you can get details and ask questions. You can make the attorney give you the details of the offer in writing. The same cautions that Kassi has posted would apply to any deal like this - find out exactly who you're leasing to, what the terms are, who's paying, etc.
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$300.00 if less than one acre and $500.00 if an acre of over. He wrote him a check for $7,500.00 for 1/4 of an acre.
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oops... sorry just saw the fee in other blog.
it is published in many news papers that caddo and desoto parish signed on various diff podunk properties for more than $25,000.00 per ac . forget the 1,000 ac+ part because every ac is precious to these oil companies!!!! why should a land owner make less than the overseers of public lands???
NOBODY should settle for less than $27,500.00 per ac and 25% to 30% royalty,
A 3 year term ( with or without a producing well ) with the same or up to 50% more bonus upon renewal.
Remember these wells become pure profit in 18 months to 831 days.... our thousands are their millions>>>>for 30 to 50 years.....
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Permalink Reply by po boy on
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In reference to the amount the parish and state received for leasing.
First, this is a LOT of land. Some large areas. and secondly bought a lot of good will. Some of the leased area had no value.
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Permalink Reply by Carter on -
Nothing says Louisiana like the stench of corruption... A lawyer is not like a CPA in terms of what duties are owed to the Client. Depending on the details of this situation, and if true, I'd report this to the Attorney Regulation Section of the LA Bar.
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