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Making a Gas Lease
When you own land that might be oil-rich, you can use a Gas Lease to grant someone else the right to explore and extract oil and gas, and other minerals, from the property. Signed by the land owner and the gas company (respectively called the "lessor" and the "lessee"), this essential contract can help to clarify the terms of the gas exploration, as well as any potential royalties the property owner could receive if anything valuable is discovered. Royalty payments are a percentage of the total proceeds made from the sale of any oil, gas or other minerals produced from the property. When ready, you can click "Make document" to take a closer look at the sample Gas Lease.
As with any other contract, Gas Leases will not be legally binding until everyone has signed. This isn't your average Gas Lease template. Any Gas Lease Contract under a Rocket Lawyer membership can be reinforced by optional Document Defense® support from an attorney.
No matter whom you are renting your property to, it is valuable to keep track of every rental with a lease. The following list of benefits may be helpful for you:
A few consequences of not having one in place could include property damage, unplanned changes to the rental arrangement, late or unpaid fees, and unauthorized usage.
To complete your Gas Lease with Rocket Lawyer, you'll need to prepare the following information in advance:
Your Gas Lease will also contain guidelines about past due payments, liability, and governing law. Using the document tool, you have the power to add further modifications, as needed.
The fees associated with hiring and working with a lawyer could be between hundreds of dollars and thousands. With Rocket Lawyer, every Gas Lease that you make will be tailored to you. Simply tap or click the button that says "Make document" to start the process. As with any document that you plan to sign, you might also find it helpful to have a lawyer in our nationwide attorney network read it over for you.
Attached alongside each Gas Lease, there's a checklist of recommended actions to take after your document is completed. With a Premium membership, you can edit, print, make a copy, sign electronically using RocketSign®, and/or save it in PDF format or as a Word file as needed. Finally, the gas company should always receive copies of your fully executed agreement. You may also wish to check out our full repository of additional legal documents.
Depending on whom you approach, some lawyers will not even accept requests to review a rental contract that they didn't draft. A more favorable approach would be via attorney services at Rocket Lawyer. If you sign up for a Premium membership, you will be able to ask for guidance from an attorney with relevant experience or ask other questions related to your Gas Lease Contract. As always, Rocket Lawyer is here to support you.