This form is used when Optionor grants and assigns the exclusive right and option, but not the obligation, to lease all or a portion of the Option Lands under the identical terms and conditions to purchase an Oil and Gas Lease on Lessor's undivided mineral interest in and under the lands covered in this lease.
West Virginia Option to Lease
Category:
State:
Multi-State
Control #:
US-OG-684
Format:
Word;
Rich Text
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How to fill out Option To Lease?
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FAQ
A West Virginia lease does not need to be notarized to be valid and enforceable. In fact, notarizing a lease is extremely rare?increasingly so as more and more residential leases are e-signed.
Early Termination Clause In West Virginia, an early termination clause can allow a tenant to break a lease early, without penalty. A tenant could only break the lease if an early termination clause exists in the agreement. In West Virginia, a landlord is not required to include an early termination clause.
Notably, a landlord cannot forcibly evict a tenant without first going to court. A tenant has the right to contest any eviction suit. Tenants served with eviction suits should contact a lawyer.
A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period. It also precludes the owner from offering the property for sale to anyone else. When the term expires, the renter must either exercise the option or forfeit it.
Required Notice Breaking a lease in Virginia (under regular circumstances) requires tenants to provide written notice. ing to the law, here are the notice requirements for Virginia tenants: Monthly Leases - 30 days. Leases with No End Date - At least 120 days before the lease ends.
In West Virginia, a landlord is not required to include an early termination clause. A tenant may be able to terminate a lease early in exchange for paying a penalty through an early termination clause. An early termination clause will allow a tenant to break the lease after 30-60 days of providing notice.
West Virginia is a very landlord-friendly state because of the lack of rent control laws and there are very few restrictions on evictions.