Iowa Affidavit As to Termination of Production Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-171
• Format: Word; Rich Text

Description

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 the Production Payment is deemed to have been satisfied and no longer burdens the Oil and Gas Leases on the Land. The Iowa Affidavit as to Termination of Production Payment is a legal document used in the state of Iowa to officially terminate a production payment. A production payment is a right to receive a portion of the proceeds from the production of minerals or other natural resources. This affidavit is typically filed by the owner of the production payment or their authorized representative. It serves as a declaration stating that the production payment is no longer valid or enforceable. It is crucial to file this affidavit to remove any legal encumbrances on the property and to ensure clear title before selling or transferring the property. Keywords: Iowa, Affidavit, Termination, Production Payment, Legal Document, Minerals, Natural Resources, Owner, Authorized Representative, Valid, Enforceable, Encumbrances, Property, Clear Title, Selling, Transferring. Types of Iowa Affidavit as to Termination of Production Payment may include: 1. Iowa Affidavit as to Termination of Oil Production Payment: This specific type of affidavit is used when terminating a production payment related to oil production. It follows the same general procedures and requirements as the regular Iowa Affidavit as to Termination of Production Payment but is focused solely on oil-related resources. 2. Iowa Affidavit as to Termination of Gas Production Payment: Similar to the oil production payment affidavit, this type is used to terminate a production payment specifically related to gas production. It is used when there is a need to terminate a production payment that was established for the proceeds from gas extraction on a particular property. 3. Iowa Affidavit as to Termination of Mineral Production Payment: This type of affidavit is more broadly focused on terminating a production payment related to minerals in general. It encompasses minerals like gold, silver, copper, or any other valuable substances extracted from the property. It is used when terminating a production payment that covers a wide range of minerals instead of being specific to only one type. These types of Iowa Affidavits as to Termination of Production Payment are differentiated based on the type of resource they pertain to. It is important to select the appropriate type of affidavit based on the specific production payment being terminated to ensure accuracy and legal compliance.

The Iowa Affidavit as to Termination of Production Payment is a legal document used in the state of Iowa to officially terminate a production payment. A production payment is a right to receive a portion of the proceeds from the production of minerals or other natural resources. This affidavit is typically filed by the owner of the production payment or their authorized representative. It serves as a declaration stating that the production payment is no longer valid or enforceable. It is crucial to file this affidavit to remove any legal encumbrances on the property and to ensure clear title before selling or transferring the property. Keywords: Iowa, Affidavit, Termination, Production Payment, Legal Document, Minerals, Natural Resources, Owner, Authorized Representative, Valid, Enforceable, Encumbrances, Property, Clear Title, Selling, Transferring. Types of Iowa Affidavit as to Termination of Production Payment may include: 1. Iowa Affidavit as to Termination of Oil Production Payment: This specific type of affidavit is used when terminating a production payment related to oil production. It follows the same general procedures and requirements as the regular Iowa Affidavit as to Termination of Production Payment but is focused solely on oil-related resources. 2. Iowa Affidavit as to Termination of Gas Production Payment: Similar to the oil production payment affidavit, this type is used to terminate a production payment specifically related to gas production. It is used when there is a need to terminate a production payment that was established for the proceeds from gas extraction on a particular property. 3. Iowa Affidavit as to Termination of Mineral Production Payment: This type of affidavit is more broadly focused on terminating a production payment related to minerals in general. It encompasses minerals like gold, silver, copper, or any other valuable substances extracted from the property. It is used when terminating a production payment that covers a wide range of minerals instead of being specific to only one type. These types of Iowa Affidavits as to Termination of Production Payment are differentiated based on the type of resource they pertain to. It is important to select the appropriate type of affidavit based on the specific production payment being terminated to ensure accuracy and legal compliance.