We use cookies to improve security, personalize the user experience, enhance our marketing activities (including cooperating with our marketing partners) and for other business use.
Click "here" to read our Cookie Policy. By clicking "Accept" you agree to the use of cookies. Read less
An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This affidavit form is used when a question arises concerning the mental competency of a lessor at the the time he/she signed a lease.
While there’s no one-size-fits-all format, the affidavit should include key details like the date, the lessor's acknowledgment of their mental state, and the signatures required.
The affidavit supports the lease's validity, making it clearer that the lessor was in good mental health when they agreed to the lease terms.
Without an affidavit, you might run into trouble proving the lease is valid if anyone questions the lessor's mental capacity in the future.
Typically, the lessor themselves can provide the affidavit, often with the help of a notary or legal professional to confirm the details.
It's best to get the affidavit done at the time the lease is executed, so everything is in order right from the get-go.
Having this affidavit helps ensure that the lease is valid and protects against any future disputes about the lessor's mental capacity.
It's a legal document that confirms the person signing an oil and gas lease is mentally competent and able to make decisions.