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SE IL | If it's cash rent then I'm not sure it needs to be addressed in the lease. The landlord retains the right to lease the property for oil, gas, coal etc. The compensation will come up when/if the land is leased for minerals and I would think that negotiation will be between the tenant and the oil/gas company. My view is that once the seed is planted it has the potential for maximum production. I don't agree with your mother's view even though it may have been done that way in the past. I really don't care much for oil companies as they don't care about anyone but themselves so if they are going to drill on land that I own/have rented, and there is crop damage, they are going to pay. If they tell you they can't afford to pay then they have no business on your land. | |
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Cash Rent Agreement & Tenant Loss Compensation
