Lessor

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*Mandatory Information

Field Name	Definition

Field Name	Definition
Total Lease Rental	The system automatically populates this field with the total rental amount as indicated in the Base Information window.
Lessor*	Summarizes all lessor and depository information for mineral and surface lease documents.
Amount*	Note: The total of all lessor amounts must equal the total rental amount specified for the lease in the Base information tab.
Depository*	Note: You must specify a depository if the Lease Payor specified in the lease Base information tab is an owner company.
Interest*	Note: The total of all lessor interest percentages must equal 100%.
Withhold Tax	If the lessor resides out-of-country, choose Gross or Net to specify if rental amounts for the lessor include withholding tax, as follows: Gross: Withholding tax applies to the lessor. The system grosses up the rental amount by the withholding tax amounts and then deducts the tax amounts as they are to be paid to the Receiver General. Net: Withholding tax applies to the lessor. The system deducts the withholding tax amount from the lessor’s rental cheque and pays this amount to the Receiver General. Note: The system determines the withholding tax percentage from the Wtax Percent field in the Country Table. The system determines the withholding tax country from the Wtax Company field on the BA record.
Bank Acct	If the rental cheque is to be deposited to a bank, enter the depository bank account.

Note: When you create lessor records in the Lessor tab, the system automatically creates a DOI record and identification number for the document lessors. The system automatically assigns Lessor as the DOI name. The Lessor DOI is based on the lessor name, the percentage interest held by the lessor in the rental amount, and dollar amount you enter for each lessor.

You can link to the Lessor DOI when you define mineral royalties. By this means you can link paid-to DOIs directly to the corresponding lessor information. See Royalty Summary Tab for more information about linking to Lessor DOIs.