Three family members listed on one lease. Chesapeake wants to issue 1 check. We want 3 seperate checks.

What do I have to do to change the lease?

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Permalink Reply by The_Baron on May 18, 2010 at 8:45
did you sign it? if so you are SOL.... Unless the landman is going to work with you, but don't count on it if you already signed the lease.
Permalink Reply by The_Baron on May 18, 2010 at 8:47
Although for what its worth, I would pay you any way you wanted, but thats just me..... I like happy lessors
Permalink Reply by nrp61 on May 20, 2010 at 3:36
Sorry it took me so long to respond. We signed in 2006. SOL huh?
Permalink Reply by Mac Davis on May 18, 2010 at 11:52
Lease bonus payment or royalty checks?

Have you asked Chesapeake, and are they resisting the idea? Who did you talk to? (Landman or CHK)
Permalink Reply by nrp61 on May 20, 2010 at 3:38
Royalty check. I spoke to the division order department. They're telling me that I have to get an attorney and file some papers with the County Recorders Office.
Permalink Reply by Kat Bloomfield on May 19, 2010 at 1:56
If CHK won't comply, check with an attorney. One possible solution to discuss is assigning the mineral rights to each of the three family members.
Permalink Reply by Spring Branch,mineral owner on May 19, 2010 at 23:12
I agree with Caliente. If they wont cooperate on the royalty checks, a simple assignment will solve the problem!
Permalink Reply by drilltheshale on May 19, 2010 at 11:29
With us, the property (to which mineral rights attach) is owned by an LLC of which we (brothers) are the owners and managers. Checks go to the LLC and money is distributed from there. Actually simple--LLC is not a taxable entity so we file the income individually on our own taxes. LLC also protects joint ownership against lawsuit against a single brother.
Permalink Reply by Kat Bloomfield on May 20, 2010 at 2:56
A potential solution to discuss is this:
LLC can assign the mineral rights 1/3 each to each of the 3 members. If each member wants its own LLC to hold the 1/3 mineral rights, each member can form his own LLC.
The property can remain in the original LLC.
Permalink Reply by The_Baron on May 20, 2010 at 3:30
I do have a few questions for this situation.

1. What is the nature of the ownership? Do each family members own an undivided interest?

2. Is there a usafruct? Naked heirs?

3. Nature of the instrument conveying minerals/title to the three family members?
Permalink Reply by nrp61 on May 20, 2010 at 3:53
Baron-

Wow. Ok. You have to speak english to me please.
Permalink Reply by The_Baron on May 20, 2010 at 4:19
Well....

How are yall related?
How did you get the land?

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