Replies to This Discussion

Permalink Reply by Jeff on September 13, 2011 at 3:12pm

The bonus $$$ is the big worm on the hook. We really need to stand shoulder to shoulder and make sure that we get the lease that is in the best interest of our family and neighbors for years to come.  The bonus $$$ is surely welcome, but The terms of the lease are much more important than the amount of the bonus $$$. The lease may be in effect for many years after the bonus $$$ is gone.

Permalink Reply by Buck Chitawa on September 15, 2011 at 3:19am

Jeff, I couldn't agree with you more. Be careful also with the terms used in the leases that are floating around. Don't confuse a "signing bonus" with the per acre lease payments due shortly after signing when it comes to any renewal of the original lease terms. At the end of 5 years (or whatever the initial term is on your contract) you might be left holding $100 and three more years on your lease (8 years or more total)...