Arkansas Surface Tenant's Subordination to An Oil and Gas Lease

State:
Multi-State
Control #:
US-OG-143
Format:
Word; 
Rich Text
Instant download

Description

If an oil and gas lease has been granted on lands in which there is a surface tenant, it may be necessary or advisable to obtain a subordination of the agreement or lease with the surface tenant, to the oil and gas lease. This form provides for that subordination and directs the manner in which compensation for any damages shall be paid.

How to fill out Surface Tenant's Subordination To An Oil And Gas Lease?

You may devote time on the web trying to find the authorized papers web template which fits the federal and state needs you require. US Legal Forms provides thousands of authorized types which can be examined by specialists. It is simple to obtain or printing the Arkansas Surface Tenant's Subordination to An Oil and Gas Lease from our support.

If you have a US Legal Forms account, it is possible to log in and click the Download key. Following that, it is possible to complete, modify, printing, or indication the Arkansas Surface Tenant's Subordination to An Oil and Gas Lease. Every single authorized papers web template you purchase is yours for a long time. To have an additional duplicate of the acquired kind, go to the My Forms tab and click the corresponding key.

Should you use the US Legal Forms web site for the first time, keep to the simple recommendations below:

  • Initially, make sure that you have chosen the best papers web template for that area/city of your liking. Read the kind explanation to make sure you have chosen the appropriate kind. If readily available, take advantage of the Review key to appear from the papers web template too.
  • If you wish to get an additional edition of the kind, take advantage of the Look for discipline to get the web template that meets your needs and needs.
  • Once you have found the web template you want, click Acquire now to carry on.
  • Pick the prices program you want, type in your credentials, and sign up for an account on US Legal Forms.
  • Full the financial transaction. You can utilize your charge card or PayPal account to pay for the authorized kind.
  • Pick the file format of the papers and obtain it to your system.
  • Make modifications to your papers if necessary. You may complete, modify and indication and printing Arkansas Surface Tenant's Subordination to An Oil and Gas Lease.

Download and printing thousands of papers layouts using the US Legal Forms website, that provides the largest assortment of authorized types. Use professional and status-particular layouts to handle your small business or individual requirements.

Form popularity

FAQ

A subordination agreement establishes one debt as ranking behind another in priority for collecting repayment should a debtor default. Considered to be a type of subordinated debt, junior debt has a lower priority for repayment than other debt claims in the case of default.

Subordination agreements are used to legally establish the order in which debts are to be repaid in the event of a foreclosure or bankruptcy. In return for the agreement, the lender with the subordinated debt will be compensated in some manner for the additional risk.

Example of a Subordination Agreement A standard subordination agreement covers property owners that take a second mortgage against a property. One loan becomes the subordinated debt, and the other becomes (or remains) the senior debt. Senior debt has higher claim priority than junior debt.

A subordination agreement is one where the lending party agrees to assign the pre-existing lien a lower priority to a subsequent oil and gas lease. As a result, it is as if the lease had been executed and recorded prior to the lien.

What is Subordination? Subordination is putting something in a lower position or rank. Therefore, a subordination agreement puts the lease below the mortgage loan in priority. Mortgage lenders want the leases to be subordinate to the mortgage. That way, the mortgage loan is paid first if there is a foreclosure.

Subordination Agreements ? Oil and Gas Leasing This arrangement allows the oil and gas company to continue producing from their wells without interruption and the mortgage company to keep receiving payments, even if the landowner defaults on the mortgage.

Trusted and secure by over 3 million people of the world’s leading companies

Arkansas Surface Tenant's Subordination to An Oil and Gas Lease