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.
Kansas Express Covenants
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Multi-State
Control #:
US-OG-792
Format:
Word;
Rich Text
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How to fill out Express Covenants?
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FAQ
Requirements in US law The original parties to the agreement must have intended that successors be bound by the agreement. A subsequent owner must have had actual notice, inquiry notice, or constructive notice (record) of the covenant at the time of purchase. The covenant must touch or concern the land.
Implied covenants differ from express covenants in that they are not formally written and recorded in the county records. Implied covenants arise through the actions, promises and statements of a land developer, coupled with the reasonable expectations of the purchasers of such land.
The four standard elements to establish a covenant that runs with the land include: Intent to run with the land at time of covenant formation. Whether the subsequent landowner has notice. Whether the covenant has touches and concerns the land. If horizontal/mutual and vertical privity exists between the parties.
The implied covenant is a tool of contract interpretation meant to ensure that the parties' reasonable expectations are fulfilled. The implied covenant prevents a party to a contract from violating the ?spirit? of the contract, even if the contract does not expressly prohibit the party's actions.
For the benefit of a real covenant to run, the following elements must be found: (1) writing, (2) intent, (3) vertical privity, and (4) touch and concern. Again, privity is not required to enforce an equitable servitude, so long as the plaintiff is an intended beneficiary of the covenant.
A real covenant is only enforceable if it was created intentionally, it relates to the property in question, and two kinds of privity are established. Additionally, a real covenant must be in writing. The party capable of enforcing the covenant depends on whether the burden or the benefit runs with the land.
A covenant is basically a promise to do something. One type of covenant example is when a deed includes a covenant of quiet enjoyment. A condition within a covenant is a particular promise that must be met. If the promise isn't kept, then a certain property right may be lost, or it could be gained.
Alexander recognized three implied covenants that lessees are bound by: (1) the implied covenant to develop the premises, (2) the implied covenant to protect the leasehold, and (3) the implied covenant to manage and administer the lease.
