This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
The Georgia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor is a legal provision that grants the lessor of a property the exclusive right to purchase any production that occurs on the leased premises. This right ensures that the lessor has the first opportunity to acquire the produced resources before they are sold to third parties. The reservation of a call on or preferential right to purchase production is typically included in lease agreements for properties that have potential for resource extraction, such as oil and gas wells, mineral deposits, or agricultural lands with valuable crops. Keywords: Georgia, Reservation of A Call on, Preferential Right to Purchase Production, Lessor, lease agreements, resource extraction, oil and gas wells, mineral deposits, agricultural lands, valuable crops. Different types of Georgia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor may include: 1. Oil and Gas Reservations: This type of reservation allows the lessor to purchase any oil or gas production that occurs on the leased property. It is commonly found in lease agreements for properties located in regions with active oil and gas exploration and production. 2. Mineral Reservations: This reservation gives the lessor the right to purchase any minerals extracted from the leased premises. It can include valuable minerals like gold, silver, copper, zinc, or other ores that may be present on the property. 3. Crop Reservations: Agricultural lease agreements may include a reservation that grants the lessor the first opportunity to purchase the crop produced on the land. This is often applicable to high-value crops like fruits, vegetables, or specialty crops such as tobacco or wine grapes. 4. Timber Reservations: In cases where the leased property has significant timber resources, the lessor may negotiate a reservation of the right to purchase any timber harvested from the land. This ensures that the lessor can benefit from the commercial value of the wood products. It is important for both the lessor and lessee to clearly define the scope and terms of the reservation of the call on or preferential right to purchase production in the lease agreement. This will help avoid any confusion or disputes regarding the lessor's rights and provide a fair and transparent framework for potential production on the leased premises.
