This form is used when Optionor grants and assigns the exclusive right and option, but not the obligation, to lease all or a portion of the Option Lands under the identical terms and conditions to purchase an Oil and Gas Lease on Lessor's undivided mineral interest in and under the lands covered in this lease.
Alaska Option to Lease
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Multi-State
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US-OG-684
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Word;
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FAQ
A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period. It also precludes the owner from offering the property for sale to anyone else. When the term expires, the renter must either exercise the option or forfeit it.
For short-term rental agreements, the rental time must be well specified with dates and even arrival and departure times. Additionally, the landlord may specify conditions, e.g., handing over the keys to the landlord on the last day, small inventory to ensure the property is complete, etc.
An Alaska month-to-month lease agreement is a contract between a landlord and tenant for the use of a residential property that can be canceled, at any time, with a minimum of thirty (30) days' notice. Either party has the right to terminate the lease.
It's important to note that Alaska tenants may legally break the lease early for reasons including: Active military duty. Landlord harassment. Early termination clause.
070. Security deposits and prepaid rent. Except as provided in (h) of this section, a landlord may not demand or receive prepaid rent or a security deposit, however denominated, in an amount or value in excess of two months' periodic rent.
Things A Landlord Cannot Do in Alaska Landlords cannot change locks, shut off utilities, or take other "self-help" actions to try to evict you. They have to file eviction cases in court.
If the tenant wishes to terminate the lease early, they have to give a 30 day notice. For more information on Alaska Landlord Tenant laws (Alaska Statutes Secs. 09.45. 090, 09.45.