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.
Oklahoma Termination of Lease As to Part of Lands refers to the legal process of ending a lease agreement for a specific portion or parcel of land in the state of Oklahoma. This termination can occur due to various reasons, such as changes in land use, property development, or mutual agreement between the lessor (landlord) and lessee (tenant). When it comes to the types of Oklahoma Termination of Lease As to Part of Lands, there are a few key classifications: 1. Voluntary Termination: This occurs when both the lessor and lessee mutually agree to terminate the lease for a specific part of the land. This may happen if the tenant no longer requires the use of that particular area or if the landlord intends to repurpose or develop the land. Both parties typically communicate their intentions and prepare a termination agreement. 2. Involuntary Termination: This type of termination happens when external factors force the lease agreement to end. For instance, the government may exercise its right of eminent domain to take over the land for public use, leaving the lease null and void. Similarly, if the land is involved in a foreclosure or bankruptcy proceeding, the lease may be terminated involuntarily. 3. Partial Termination: This type of termination occurs when only a specific portion of the leased land is terminated, while the rest of the lease remains intact. It could be due to a development project or the need to adjust the property boundaries. In such cases, an amended lease agreement may be drafted, indicating the modified terms and conditions. 4. Termination for Breach: If either party fails to fulfill their obligations as stipulated in the lease agreement, the opposite party may seek termination for breach. This often involves legal procedures, such as sending notices, resolving disputes, and ultimately seeking termination through court intervention. It is important to note that the termination of lease as to part of lands in Oklahoma requires adherence to state-specific laws and regulations. Parties involved should consult with legal professionals experienced in Oklahoma real estate matters to ensure compliance and navigate the termination process effectively. Keywords: Oklahoma, Termination of Lease, Part of Lands, land use, property development, voluntary termination, involuntary termination, partial termination, termination for breach, lease agreement, lessor, lessee, boundaries, legal procedures, real estate matters.
