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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 form is used by a Guardian stating the intent to execute an oil and gas lease on behalf of the ward.
If the lease doesn’t generate the expected benefits, it could impact the ward’s financial situation. The guardian must have a plan in place for potential outcomes, just in case things go south.
It's wise to consult legal experts and possibly financial advisors who can provide insight into how the lease would benefit the ward long-term. Two heads are better than one!
Yes, there can be risks, such as the possibility of environmental issues or changing market conditions. The guardian should weigh the pros and cons thoroughly.
The affidavit should clearly state the guardian's role, the specifics of the lease, and how it's beneficial for the ward. It's like laying out all the cards on the table.
The guardian provides proof of their appointment, usually through court documents. This shows they're legally authorized to make decisions regarding the ward's estate.
Sometimes, it's in the best interest of the person being cared for. The lease can generate income from the resources, which can help support the ward's needs.
It's a legal document where a guardian, appointed to take care of someone unable to manage their own affairs, declares their authority to handle the person's estate and decisions, including granting leases for oil, gas, and minerals.