Replies to This Discussion

Permalink Reply by Finnbear on February 14, 2014 at 10:44pm

Have you contacted to the company you signed with recently to see what their intentions are?

Does the lease you signed give them an extension of the payment date for any reason?

Permalink Reply by tony blankenship on March 2, 2014 at 3:06pm

well all i know is no one has ever gotten back to me about selling my minerials so i guess i just stay status quo with them.

Permalink Reply by shesrushmore on March 12, 2014 at 5:29pm

Tony
Where are your mineral rights located? Send me a msg and I can get you some details if you want to sell.

Permalink Reply by Mike Sero on March 18, 2014 at 5:35pm

I can get you offer on minerals if you haven't sold.

On Lease recorded or not. If you haven't been paid etc....

Called a race state, Ohio has a law that says first recorded "Legal" document is valid. Remember LEGAL!!! Basically you can't sell the cow twice with out getting the first contract nulled. Protects the buyer/leasing company.  If you leased with a 2nd company within the first companys time frame of doing title and got paid by 2nd company. First company Lease is valid and your liable for paying monies back to 2nd company maybe even damages.

That being said, if the first lease has not been paid - per contract it is not valid, the land owner must ask for a release and can file a release from lease. certified letter etc.. CYA, cover your ass.

Permalink Reply by adam sorell on March 18, 2014 at 8:08pm

what happens if the first company didn't record anything. but the second company records first ? The first least time frame is still valid but just don't want to to pass on a better deal???

for example someone signs with comany x. comapny x has 150 days to pay. it's been 90 days and rumors are company x is not paying. Company X has not recorded a memorandum Company B comes along and offers to lease . Company B files memorandum first.   Can company X  file for damages??

Permalink Reply by OUBobcat on March 18, 2014 at 9:04pm

Still most likely you would have to send company X a certified letter for them to release your property.  Similar situation has just happened to us not with any companies mentioned in here but with another and was told no lease was filed. Leased our land with them and was never paid due to them saying there was a conflict with our land. Nothing from this company shows up on LandAccess.  Tried leasing with another company because there wasn't any issues like we were told then new company called back and said the original company had filed a holding lease on our ground.  Now we are in the process of getting it released.  Original company says it could take upwards of 80 days. 

Permalink Reply by adam sorell on March 18, 2014 at 9:46pm

OUBOb- you can get out of it yourself by filing affidavit  of non compliance. Some companies will do it for you as long as you can show the contract has been broken.

I signed up with GR end of December they still haven't filed a memorandum and some guys on here signed back in september 2013 and haven't been paid. Some guys have. No way to get in touch with company.

Are there companies still looking to lease. Maybe i get lucky when the time peroid end they will be leasing for $10k and acre. lol with my luck it will be $10 an acre.

Permalink Reply by OUBobcat on March 18, 2014 at 11:44pm

Ya thats what we had to do.  But it still doesn't happen overnight.  If you signed up with GR in Bridgeport I would call the man that was in charge of it. He is still out of the same building and down there frequently.  He might be able to point you in the right direction.

Paloma has sold everything  to AEP and I think XTO might be included in that deal somehow to.  Looking like AEP and the few companies out in the western part of the county are the only ones left to lease with.

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