This form is used when Assignee has recovered certain costs out of Assignee's share of the proceeds of production of oil and gas from producing wells on the Lease, and Assignee's interest in the Lease is reduced. Assignor will be vested with title to an interest in the Lease, the "Reversionary Interest".
North Carolina Notice of Payout by Party Entitled to Reversionary Interest
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State:
Multi-State
Control #:
US-OG-354
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Word;
Rich Text
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Description
How to fill out Notice Of Payout By Party Entitled To Reversionary Interest?
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FAQ
§ 42-14. A tenancy from year to year may be terminated by a notice to quit given one month or more before the end of the current year of the tenancy; a tenancy from month to month by a like notice of seven days; a tenancy from week to week, of two days.
(10) ?Tenant? means any natural person or entity who is a named party or signatory to a lease or rental agreement, and who occupies, resides in, or has a legal right to possess and use an individual rental unit.
In North Carolina, there is no specific law on landlords' right to access the property. It means that landlords may enter the property without prior notice if they have justifiable reasons to do so. In emergency situations, landlords may enter without tenants' permission.
The North Carolina Office of Administrative Hearings and the Fair Housing Act prohibit landlords from discriminating against potential tenants because of their race, religion, familial status, sex, gender, etc.
Here are the justified reasons for early lease termination in the state: Active Military Duty. ... Uninhabitable Conditions. ... Domestic or Sexual Violence. ... Early Termination Clause. ... Landlord Harassment or Privacy Violation. ... Mental or Physical Disability. ... Landlord Retaliation.
In North Carolina, an eviction case is called ?summary ejectment.? Landlords can file to legally remove a tenant rented property if the tenant has failed to pay rent, violated the lease agreement, or if other conditions apply.
