Affidavit As to Receipt of Rental / Shut-In Payment by Lessor
Definition and meaning
An Affidavit As to Receipt of Rental/Shut-In Payment by Lessor is a legal document used by a lessor (the person or entity leasing property) to confirm they have received a payment specified in an oil and gas lease agreement. This affidavit acts as proof that the lessor has received the rental or shut-in payment, which is essential for maintaining the lease in force.
How to complete a form
To complete the Affidavit As to Receipt of Rental/Shut-In Payment, follow these steps:
- Fill in your name and address as the lessor.
- Provide details about the oil and gas lease, including the date of the lease, the lessee's name, and the recorded information.
- Specify the description of the lands covered by the lease.
- State the amount of the rental or shut-in royalty payment received.
- Indicate the date when the payment was due.
- Confirm receipt of the payment and affirm that the lease remains in effect.
- Sign and date the affidavit in the presence of a notary public to validate it.
Who should use this form
This affidavit should be used by lessors who have leased oil and gas land and have received rental or shut-in payments. It is crucial for those who wish to document the receipt of payments formally to protect their interests and ensure the lease remains valid.
Legal use and context
The Affidavit As to Receipt of Rental/Shut-In Payment is typically used in the context of oil and gas leasing. It serves a legal purpose by providing evidence of payment receipt, which is often required for the lessor to maintain their right under the lease. It can be presented in legal situations to clarify the status of payments and the agreement between both parties.
Key components of the form
The主要部件of the Affidavit As to Receipt of Rental/Shut-In Payment include:
- Personal details of the affiant (lessor).
- Information about the lease, including dates and parties involved.
- Description of the property covered by the lease.
- Payment details, including the amount and due date.
- Affirmation of receipt of payment.
- Notary acknowledgment.
Common mistakes to avoid when using this form
When completing the Affidavit As to Receipt of Rental/Shut-In Payment, be cautious of the following common mistakes:
- Incomplete information regarding the lease and payments.
- Failing to sign the affidavit in front of a notary public.
- Not providing an accurate description of the lands involved.
- Incorrect dates or amounts, leading to potential disputes.
