Alabama Durable Power of Attorney For Limited Purpose of Executing Division orders and Transfer orders

• Category: Oil Gas and Minerals - Agent Designations
• State: Multi-State
• Control #: US-OG-020
• Format: Word; Rich Text

Description

This form is described in the title. If an agent/attorney in fact signs a division order for a third party, the disburser of production will most probably call for an original of this power of attorney to accompany the signed division order, or a copy of a recorded power of attorney accompany the division order. A Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders in Alabama is a legal document that grants someone the authority to act on behalf of another person, known as the principal, specifically for the purpose of executing division orders and transfer orders. This power of attorney is designed to give limited powers to carry out these specific tasks and is durable, meaning it remains in effect even if the principal becomes incapacitated. Having a Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders can be particularly useful for individuals involved in the oil and gas industry or those who own mineral rights in Alabama. Here are some relevant keywords associated with this topic: 1. Division orders: A division order is a document used in the oil and gas industry to distribute proceeds from the sale of production among various interest owners. It specifies the percentage of ownership each party has, along with their respective addresses for payment purposes. 2. Transfer orders: A transfer order is a legal document used to transfer ownership of mineral rights or other interests to another party. It is often required when there is a change in ownership or when a mineral lease is transferred. 3. Limited purpose: The power of attorney is limited to executing division orders and transfer orders only, meaning the agent appointed under this document cannot act beyond these specific tasks. 4. Alabama: This indicates that the content is specifically related to the state of Alabama, including its laws, regulations, and legal requirements. Different variations of the Alabama Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders may include specific terms and conditions based on the requirements of the principal. Some variations may address additional powers or limitations, while others may include guidelines for termination or revocation of the power of attorney. It is crucial to consult with legal professionals familiar with Alabama laws regarding powers of attorney and the specifics of the oil and gas industry to ensure all necessary legal requirements are met. Creating a comprehensive and well-drafted power of attorney can provide peace of mind and facilitate the smooth execution of division orders and transfer orders in Alabama.

A Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders in Alabama is a legal document that grants someone the authority to act on behalf of another person, known as the principal, specifically for the purpose of executing division orders and transfer orders. This power of attorney is designed to give limited powers to carry out these specific tasks and is durable, meaning it remains in effect even if the principal becomes incapacitated. Having a Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders can be particularly useful for individuals involved in the oil and gas industry or those who own mineral rights in Alabama. Here are some relevant keywords associated with this topic: 1. Division orders: A division order is a document used in the oil and gas industry to distribute proceeds from the sale of production among various interest owners. It specifies the percentage of ownership each party has, along with their respective addresses for payment purposes. 2. Transfer orders: A transfer order is a legal document used to transfer ownership of mineral rights or other interests to another party. It is often required when there is a change in ownership or when a mineral lease is transferred. 3. Limited purpose: The power of attorney is limited to executing division orders and transfer orders only, meaning the agent appointed under this document cannot act beyond these specific tasks. 4. Alabama: This indicates that the content is specifically related to the state of Alabama, including its laws, regulations, and legal requirements. Different variations of the Alabama Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders may include specific terms and conditions based on the requirements of the principal. Some variations may address additional powers or limitations, while others may include guidelines for termination or revocation of the power of attorney. It is crucial to consult with legal professionals familiar with Alabama laws regarding powers of attorney and the specifics of the oil and gas industry to ensure all necessary legal requirements are met. Creating a comprehensive and well-drafted power of attorney can provide peace of mind and facilitate the smooth execution of division orders and transfer orders in Alabama.