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Showing posts with the label leasing

That’s Gotta Bite

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Long before I was born my grandpa took the opportunity to invest in oil lands.   From my understanding his investment had paid for a certain amount of land which different companies would lease in order pump out oil and distribute under their name.   I had heard of Shell, Amacco, Texaco and Conoco but there were many other names that I did not recognize.   I don ’ t know how often checks were written to each share holder but each check would bear the name of the company who had leased the land.   After my grandpa had died the checks were made out to my grandmother.   When she died she had made arrangements that each of her children would get 30% of the royalties and the remaining ten percent would be divided among her then eleven grandchildren. I never saw what my parents were getting, but the checks made out to us had always come with a mountain of paperwork.   We had always found it to be such a great waste of money that it would often cost more to send...