Michigan Seismic Option and Lease Agreement

State:
Multi-State
Control #:
US-OG-077
Format:
Word; 
Rich Text
Instant download

Description

This is a short form agreement. The lessor is identified as owning all the mineral estate in the lands covered by the agreement. A form of oil and gas lease will need to be attached as an exhibit to the agreement.
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FAQ

In Michigan, the maximum length of a standard residential lease agreement is one (1) year. If all parties agree on a longer lease (greater than one year), it must be written. How long can a residential lease be in Michigan? ipropertymanagement.com ? answers ? how-long-... ipropertymanagement.com ? answers ? how-long-...

Leases don't have to be in writing. But if a lease is written, it must include the name and address where the landlord will notify the tenant of changes to the lease. The lease must tell tenants they must give the landlord a forwarding address in writing where they can be reached within four days after moving out.

As long as the tenant does not violate any rules, they can stay until their rental period ends. But if they stay in the property even a day after their lease/rental agreement ends and have not arranged for renewal, landlords can issue a written 30-Day Notice to Quit.

Michigan Lease Agreements do not need to be notarized. The Rental Contract is legally binding as long as it's signed by both the Landlord, or the lessor, and the Tenant, or the lessee. Michigan Lease Agreement with ezSign - ezLandlordForms ezlandlordforms.com ? documents ? michig... ezlandlordforms.com ? documents ? michig...

In the law of several US states, a 99-year lease will always be the longest possible contract for realty by statute, but many states have enacted shorter terms and some allow infinite terms.

A landlord can't force you to move out before the lease ends, unless you fail to pay the rent or violate another significant term, such as repeatedly throwing large and noisy parties. In these cases, landlords in Michigan must follow specific procedures to end the tenancy.

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Michigan Seismic Option and Lease Agreement