This form is used when an Agent declares and acknowledges that the consideration for an Assignment should accrue to the benefit of Principal, and that Principal is the owner of the reserved interest in the Assignment. To give effect to declaration, Agent, as Assignor, grants, sells, and assigns to Principal, as Assignee, all of Agent's interest in the Lease and the interest reserved by Agent in the Assignment.
The Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal is a legal document that outlines the acquisition of an oil and gas lease by an agent acting on behalf of a principal in the state of Oregon. This declaration serves as proof of the transfer of lease rights from the agent to the principal and holds significant importance in ensuring the validity and legality of the transaction. Keywords: Oregon, declaration, oil and gas lease, acquired, agent, principal, legal document, transfer, lease rights, validity, legality, transaction. There are different types of Oregon Declarations That Oil and Gas Lease Was Acquired by Agent For Principal, including: 1. Individual Agent Acquisition Declaration: This type of declaration is used when an individual is acting as an agent on behalf of a principal and acquires an oil and gas lease. It details the specific terms and conditions of the acquisition and establishes the principal's ownership rights. 2. Corporate Agent Acquisition Declaration: When a corporation acts as an agent for a principal and acquires an oil and gas lease, a Corporate Agent Acquisition Declaration is used. This declaration identifies the specific individuals representing the corporation and confirms the transfer of lease rights to the principal. 3. Attorney-in-Fact Acquisition Declaration: In situations where a principal appoints an attorney-in-fact to acquire an oil and gas lease on their behalf, an Attorney-in-Fact Acquisition Declaration is executed. This document grants the attorney-in-fact the authority to act on behalf of the principal and outlines the terms of the acquisition. 4. Limited Liability Company (LLC) Agent Acquisition Declaration: When an LLC acts as an agent for a principal in the acquisition of an oil and gas lease, a specific declaration is formed. This document ensures that the LLC's actions are legally binding, and the lease rights are transferred to the principal. In summary, the Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal is a vital legal document that evidences the transfer of lease rights from an agent to a principal. It plays a crucial role in ensuring the legality and validity of the acquisition process. Different types of declarations exist depending on the circumstances, such as individual agent acquisition, corporate agent acquisition, attorney-in-fact acquisition, and LLC agent acquisition declarations.
