Iowa Reservation of Additional Interests in Production

State:
Multi-State
Control #:
US-OG-819
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.

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FAQ

Claim to real estate.? Iowa Code § 614.17A provides that an action may not be maintained ?to recover or establish an interest in or claim to real estate.? In order to prove a breach of contract, Appellants must first prove ?(1) the existence of a contract [and] (2) the terms and conditions of the contract.? Iowa ...

Section 535.16 - Delivery of copies of debt documents. Section 535.17 - Requirements of credit agreements ? statute of frauds ? modifications. Section 535.18 - Consumer credit terms for service members ? enforcement.

Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.

Generally, a secured creditor may seek to enforce its rights on its collateral upon a debtor's default. A secured creditor's remedies include an Article 9 sale, which is the right to sell the debtor's collateral to a third party in a private or public sale while avoiding any judicial proceedings.

The main point of Article 9 is to be a secured creditor: If a creditor is secured it has a claim in something of the buyer's (the goods exchanged for future payment or other collateral). This gives the creditor: Right of repossession of goods extended in exchange for future payment if the payment is never made.

Iowa Code section 614.14(5)(b) states that an action based on an adverse claim that arises ?by reason of a transfer in real estate by a trustee, or purported trustee, shall not be maintained? more than one year after the trustee's deed is recorded.

Article 9 definitions. In this Article: a. ?Accession? means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.

Article 9 of the UCC governs any transaction that is voluntary and commercial and which creates an interest in personal property. Personal property may include fixtures, which are personal property that is attached to real property, such as a furnace.

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Iowa Reservation of Additional Interests in Production