Texas Underground Storage Lease and Agreement
Description
How to fill out Underground Storage Lease And Agreement?
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FAQ
Recording a lease means that it (or a Notice of Lease) is submitted to the public record, usually at the local Registry of Deeds following the signing of it by both parties. Generally, recording of the lease protects the tenant against subsequent claims to the property.
In Texas, the term "lease" is in some ways a misnomer. In fact, an oil and gas lease is a conveyance by the Lessor of the fee mineral estate to the Lessee, for a term. As long as the lease is in force, the Lessee is the owner of the minerals covered by the lease, and the Lessor is the owner of a royalty interest only.
It means that you are protected from eviction in the event that your landlord decides to sell the property while your lease is in effect. Of course, this is assuming that you're in compliance with all of the other terms of your lease, like paying rent on time.
Neither party (nor any of their respective agents or representatives) shall record this Agreement (or any memorandum or short form of this Agreement) without the prior written consent of the other.
A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.
Recording: Sec. 5.021, Texas Property Code, any lease exceeding more than one year must be recorded in the same manner as a deed of conveyance in order to be valid against third parties without notice. Leases must be filed for record in the county in which the lease property is located.
A lease clause is a specific part of a contract or rental agreement between the landlord and tenant. These clauses need to be compliant with local state laws and other agreements between the two parties.
Recording a lease means that it (or a Notice of Lease) is submitted to the public record, usually at the local Registry of Deeds following the signing of it by both parties. Generally, recording of the lease protects the tenant against subsequent claims to the property.
