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.
New Mexico Express Covenants
Category:
State:
Multi-State
Control #:
US-OG-792
Format:
Word;
Rich Text
Instant download
Description
How to fill out Express Covenants?
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FAQ
Although the burden of a positive covenant does not run with the land, there are various workarounds which can be adopted to ensure a similar outcome: Chains of indemnity. Compulsory renewed covenants supported with a restriction. Right of entry annexed to an estate rentcharge. Freehold right of re-entry.
Covenants are agreements between multiple parties that create a legally binding agreement on how each party is to perform. Covenants can either promote activity to occur (positive covenant) or disallow an event or condition (negative covenant).
These clauses allow employers to restrict an employee's ability to move onto working with a competitor immediately after leaving your business and taking valuable information from your company over to that new employer, such as client or customer lists, or certain trade secrets that your business relies upon to succeed ...
A covenant that runs with a land is a covenant that transfers when ownership of the attached land transfer. The future owner of the property subject to a covenant that runs with the land is bound by that covenant.
Non-Compete Clauses can be Lawful and Enforceable in New Mexico. While some states simply do not allow non-compete clauses to be enforced, New Mexico does allow non-compete provisions to be enforced in many circumstances. However, there are limitations on non-compete clauses.
In order for a covenant to run with the land, however, two primary elements must be established: 1) the parties to the covenant intended it to run with the land, and 2) the covenant ?touches and concerns? the land (i.e. it must closely relate to the land, its use, or its enjoyment).
The Buyer agrees that its obligations under these Covenants must bind all future buyers of the Land and indemnifies the Seller for any costs or damages it may suffer as a result of the future buyers not being so bound.
A special warranty deed is a type of legal document used to transfer New Mexico real estate from one person to another. In a special warranty deed, the seller, also known as the grantor, transfers the property with special warranty covenants.
