Virgin Islands Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor

State:
Multi-State
Control #:
US-OG-820
Format:
Word; 
Rich Text
Instant download

Description

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.

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FAQ

The Trustees may be individuals, companies licenced as trust companies under the BTCA, or Private Trust Companies established under the Regulations. An individual Trustee does not have to be a BVI resident. Generally, the Trustee of a BVI Trust is a trust company based in the BVI.

Section 83A (13) as amended in the Amended Act sets out the "firewall" provisions, which provide that subject to any express provision to the contrary in the trust or disposition, no BVI trust or transfers of property held on trust shall be void, voidable, liable to be set aside, or defective in any way, nor is the ...

Sole Trustee refers to the person who has signed this Declaration of Trust. Sole Trustee refers to the person who has signed the Original Declaration of Trust.

(1) ?Goods? means all things (including specially manufactured goods) which are movable at the time of identification to the contract for sale other than the money in which the price is to be paid, investment securities (Article 8) and things in action.

Section 83A (13) as amended in the Amended Act sets out the "firewall" provisions, which provide that subject to any express provision to the contrary in the trust or disposition, no BVI trust or transfers of property held on trust shall be void, voidable, liable to be set aside, or defective in any way, nor is the ...

This includes tax planning, family wealth management, the protection and preservation of assets, or for estate succession purposes, to avoid the expense and delay of obtaining a grant from the court to administer the estate of a deceased.

The Trustee (Amendment) Act 2021 entered into force on and brings the BVI trust law in line with international trust law developments. arrangements on behalf of various categories of persons who are themselves unable to provide such approval, such as minors and unborn and unascertained persons.

§ 2-718. Liquidation or Limitation of Damages; Deposits. Uniform Commercial Code | US Law | LII / Legal Information Institute.

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Virgin Islands Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor