Guam Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor

State:
Multi-State
Control #:
US-OG-820
Format:
Word; 
Rich Text
Instant download

Description

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.

How to fill out Reservation Of A Call On, Or Preferential Right To Purchase Production By Lessor?

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FAQ

The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.

NOTE?Guam is an unincorporated, organized territory of the United States. It is ?unincorporated? because not all provisions of the U.S. Constitution apply to the territory.

The laws in the Guam Code are passed by the Legislature of Guam, which was created by the Organic Act of Guam in 1950. The Legislature of Guam contains 15 members, who serve two-year terms and are not subject to any term limits. A proposed law is known as a bill.

Guam is an unincorporated territory of the United States. Most but not all federal laws apply to Guam. In addition to the U.S. Constitution, which is the supreme law of the U.S., federal laws include statutes that are periodically codified in the U.S. Code.

3, of the U.S. Constitution. U.S. federal law applies to Puerto Rico, even though Puerto Rico is not a state of the American Union and their residents have no voting representation in the U.S. Congress.

US Naval Governor Willis Bradley created a Bill of Rights for Guam on 4 December 1930 modeled after the first 10 Amendments to the US Constitution. The bill also included the right of writ of habeas corpus and the privilege of voting in local elections regardless of race or sex.

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Guam Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor