Oklahoma Unit Agreement

State:
Multi-State
Control #:
US-OG-775
Format:
Word; 
Rich Text
Instant download

Description

In the interest of the public welfare and to promote conversation and increase the ultimate recovery of oil, gas, and associated minerals from the Unit and to protect the rights of the owners of interest in the lands included in the Unit, it is deemed necessary and desirable to enter into this Agreement, in conformity with (Applicable Statutory reference), to unitize the Oil and Gas Rights in and to the Unitized Formation in order to conduct a secondary recovery, pressure maintenance, or other recovery program as provided for in this Agreement.

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FAQ

An Oklahoma rent-to-own lease agreement allows a tenant to enter into a standard lease with an option to buy the property from the landlord. The details of the purchase are commonly pre-negotiated between the tenant and landlord. If the tenant decides not to buy, the lease will end with no liability to either party.

Like most rules, the rule that property managers or management companies in Oklahoma must have a real estate license has exceptions. Some exceptions to the rule: A person or entity that has ownership of a property. Example: Nancy bought a small home and plans to rent it out.

A: The landlord can enter in a reasonable way at reasonable times to inspect, make repairs, supply necessary services, show the building to purchasers, tenants, workmen, etc. Unless there is an emergency or it is impractical to do so, the landlord must give you at least one day's notice of intent to enter.

"Contracts for Deed" - Contracts for deed, sometimes referred to as "rent to own" financing arrangements, are legal in Texas.

In general, a landlord in Oklahoma has to repair any issues at a rental property that could affect a tenant's health or safety. The landlord must usually repair issues within 14 days of getting written notice from the tenant about the needed repairs.

For example, it may require a tenant to pay a penalty fee if they wish to terminate early. The penalty is often equivalent to two months' rent. Early termination clauses also require a tenant to provide ample notice, usually 30 days.

In Oklahoma, all contracts for deed of real property are deemed mortgages and are subject to the same regulations, restraints, and forms as are prescribed in relation to mortgages; Conner v. Northwestern Nat'l Cas.

An Oklahoma month-to-month rental agreement is a lease for an undefined period of time that can be canceled at any time by the landlord or tenant giving a 30-day notice. If no notice is sent, the lease will continue under the same terms as the original lease.

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Oklahoma Unit Agreement