M_Barnes and others have advised it is always best to require full payment for a mineral rights sale or lease be made – up front – in full – in the form of a cashier check (not a bank draft) because the acquiring person’s bank account may not have sufficient funds at the point in time I provide them with a signed and notarized agreement – meaning I am taking the risk I will not be paid without further and costly legal action. If the transaction is not made in person due to my living out of state, what is the best way, or ways, to handle that exchange? A trusted and independent third party would appear to be a good way to ensure my signed/notarized agreement and the cashier check are exchanged up front – meaning if the third party does not receive a valid cashier check in the full and in correct amount, the third party would be instructed to not give the buyer/lessee my signed/notarized agreement. Who should that third party be (a local attorney, a local title analyst, a local family member, my out-of-state banker, my out-of-state attorney. etc.)?
Use your Bank fax a copy of notarized agreement when they get that they put money into your account when you receive the money mail the original.
I suggest to exchange the lease for check. Always make a copy of both. If you are out of state this may be difficult. Just don’t take a bank draft.
So Trinity drilling sent me all the forms I live in Texas I took it to a lawyer the bank recommended he said I was good to go ahead without an attorney I signed sent it to them and that was months ago so I’m screwed
Check and see if the lease is filed in the Lincoln county records. What section, township and range?
I agree with M. Barnes. Check to see if the lease has been filed of record. If it has been recorded, I suggest that you write the lessee to demand payment- give them a specified amount of time- or that they release the lease of record and send you a copy within that same time frame. If they do not do either, I would file an affidavit in the county to give notice to anyone that checks the records. It can be a very simple document setting out what happened, the recording of the bad lease, signed and notarized. This may not be the “perfect” solution, but it does serve as notice for any party interested in leasing. The lease is not good if the company does not pay for it.
Thank you I know nothing about this subject didn’t know he had it till about two months after his death and the company contacted me