Replies to This Discussion

Permalink Reply by Two Dogs, Pirate on September 3, 2010 at 12:09

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.

Permalink Reply by cocodrie man on September 4, 2010 at 2:36

In my case, a check took six days.

Permalink Reply by gcw on September 4, 2010 at 9:36

If I recall correctly, it was about two weeks.

Permalink Reply by Dawn on September 20, 2010 at 3:39

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....

Permalink Reply by Mrs. Sunshine on September 21, 2010 at 12:30

Thanks everybody for the info. It did take about 15 days to clear .

Permalink Reply by Henry on September 21, 2010 at 13:36

Mrs. Sunshine,
Do you mind sharing with us what leases in RRP are fetching these days? Thanks.

Permalink Reply by Mrs. Sunshine on September 22, 2010 at 12:58

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.

Permalink Reply by Bell Family on September 28, 2010 at 14:12

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.