This form is used when a Principal and an Agent enter into a Escrow Agreement for the purpose of setting forth the terms and provisions by which the Agent will act as trustee for the holding of earnest money paid by a third party to the Principal under the Agreement.
Michigan Escrow Agreement for Sale of Undivided Interest in Oil and Gas Leases
Category:
State:
Multi-State
Control #:
US-OG-212
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Michigan Escrow Agreement For Sale Of Undivided Interest In Oil And Gas Leases?
Have you been in a place in which you need papers for sometimes company or person uses virtually every day? There are tons of legal papers themes available online, but discovering versions you can rely is not straightforward. US Legal Forms delivers a large number of develop themes, such as the Michigan Escrow Agreement for Sale of Undivided Interest in Oil and Gas Leases, that happen to be published to satisfy federal and state specifications.
In case you are previously knowledgeable about US Legal Forms web site and possess an account, merely log in. Next, you may obtain the Michigan Escrow Agreement for Sale of Undivided Interest in Oil and Gas Leases format.
If you do not come with an profile and need to begin to use US Legal Forms, follow these steps:
- Discover the develop you require and ensure it is for the correct area/county.
- Make use of the Review key to analyze the shape.
- Read the description to actually have selected the appropriate develop.
- In the event the develop is not what you`re seeking, take advantage of the Lookup discipline to find the develop that meets your needs and specifications.
- When you discover the correct develop, simply click Get now.
- Choose the pricing plan you need, fill in the necessary info to create your account, and pay money for the transaction utilizing your PayPal or charge card.
- Pick a hassle-free paper file format and obtain your copy.
Get all of the papers themes you have purchased in the My Forms food selection. You can obtain a additional copy of Michigan Escrow Agreement for Sale of Undivided Interest in Oil and Gas Leases whenever, if required. Just click on the necessary develop to obtain or printing the papers format.
Use US Legal Forms, one of the most extensive assortment of legal kinds, to save lots of some time and avoid faults. The assistance delivers appropriately made legal papers themes that you can use for an array of uses. Produce an account on US Legal Forms and begin generating your life a little easier.
Form popularity
FAQ
Essential Clauses In An Oil And Gas Lease The granting clause conveys the right to develop and related rights to the lessee. The habendum clause defines the type of interest and rights the landowner is granting to the company who wants to lease the land. This clause is where the length of the lease is specified.
An undivided interest is an ownership that is co-owners have an equal right to enjoy the entire property. The property is not divided into identifiable sections. When someone owns less than 100% of the interest, they are said to own an undivided interest.
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.
?Unless? Lease An oil and gas lease with a delay- rental clause structured as a special limitation to the primary term. The lease automatically terminates, though the lessee has no liability for its failure to perform, ?unless? the lessee pays delay rentals or commences drilling operations.
An ?unless? clause provides that the lease terminates unless the lessee has either made the required payments or commenced drilling operations. Lessees can therefore be terminated from the lease by failure to pay the proper amount, by the due date, in the proper form, to the proper party.