Massachusetts Notice of Claim of Breach of Oil, Gas, and Mineral Lease by the original Lessor's Successor

Category:

Oil Gas and Minerals - Notices

State:

Multi-State

Control #:

US-OG-107

Format:

Instant download

Description

Most leases require a lessor give a lessee a written notice of any claimed breach of the lease. The lessee is usually granted a period of time in which to remedy the breach before a claim can be made for damages or that the lease is terminated. This form is a second notice to a lessee. It is prepared for signature by the successor to the original lessor. It provides that a letter has been sent to the lessee notifying the lessee of the claimed breach. This notice, once recorded, is constructive notice that the lease is deemed to have expired for failure of the lessee to remedy the claimed breach.

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How to fill out Notice Of Claim Of Breach Of Oil, Gas, And Mineral Lease By The Original Lessor's Successor?

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FAQ

Under the Mineral Leasing Act as amended and the Mineral Leasing Act for Acquired Lands of 1947 as amended, coal leases are initially obtained for a 20-year period but can be terminated in 10 years if the resources are not sufficiently developed.

Granting Clause: The clause in the deed that lists the grantor and the grantee and states that the property is being transferred between the parties.

What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.

A good indemnification clause should be negotiated to make the oil and gas company responsible for defending and indemnifying the landowner should a claim be brought due to the operations or activities of the oil and gas company.

in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.

A ?special warranty? is a covenant made by the lessor to defend the lessee against encumbrances or clouds on the oil and gas title created by the lessor during his ownership of the estate. The protection offered by this warranty is therefore limited to those title defects caused or created by the lessor himself.

Granting Clause: This clause specifies: (a) the land that is being leased; (b) which minerals are being leased (oil, gas, uranium, etc.); and (c) and what rights the production company has to use the surface land in an effort to produce the leased minerals.

An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.