Kansas 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. Kansas Affidavit As to Termination of Production Payment is a legal document used in the state of Kansas to terminate the production payment obligations associated with an oil and gas lease. This affidavit is an essential tool for both parties involved in terminating the payment arrangement. The Kansas Affidavit As to Termination of Production Payment serves as a declaration made by the party responsible for making the payment, referred to as the "payer," stating that the production payment obligation has been fully satisfied, and no further payments are required. It is crucial to execute this affidavit correctly to ensure the legal termination of the production payment. There are several types of Kansas Affidavit As to Termination of Production Payments, including: 1. Standard Kansas Affidavit As to Termination of Production Payment: This is the most common type of affidavit used and encompasses the general termination of the production payment obligations. It includes details such as the names of the parties involved, the effective date of termination, and the specific lease or agreement being terminated. 2. Kansas Affidavit As to Termination of Production Payment with Partial Satisfaction: This type of affidavit is used when the production payment obligation is only partially satisfied, meaning that some payments have been made, but the full amount is yet to be paid. It includes the current payment status, the amount paid, and any remaining balance. 3. Kansas Affidavit As to Termination of Production Payment due to Lease Assignment: In some cases, a lease agreement may be assigned or transferred to a new party. If this happens, the production payment obligation may need to be terminated, and this type of affidavit is used to accomplish that. It includes details regarding the assignment or transfer and states that the production payment obligation no longer applies. 4. Kansas Affidavit As to Termination of Production Payment by Mutual Consent: This type of affidavit is used when both parties involved in the production payment agreement mutually agree to terminate the payment obligation. It typically includes a section where both parties sign and declare their consent to termination. Executing a Kansas Affidavit As to Termination of Production Payment correctly is crucial to ensure the legal termination of the payment obligation. It is advisable to seek legal advice or assistance to draft and execute this document accurately, considering the unique circumstances of each case.

Kansas Affidavit As to Termination of Production Payment is a legal document used in the state of Kansas to terminate the production payment obligations associated with an oil and gas lease. This affidavit is an essential tool for both parties involved in terminating the payment arrangement. The Kansas Affidavit As to Termination of Production Payment serves as a declaration made by the party responsible for making the payment, referred to as the "payer," stating that the production payment obligation has been fully satisfied, and no further payments are required. It is crucial to execute this affidavit correctly to ensure the legal termination of the production payment. There are several types of Kansas Affidavit As to Termination of Production Payments, including: 1. Standard Kansas Affidavit As to Termination of Production Payment: This is the most common type of affidavit used and encompasses the general termination of the production payment obligations. It includes details such as the names of the parties involved, the effective date of termination, and the specific lease or agreement being terminated. 2. Kansas Affidavit As to Termination of Production Payment with Partial Satisfaction: This type of affidavit is used when the production payment obligation is only partially satisfied, meaning that some payments have been made, but the full amount is yet to be paid. It includes the current payment status, the amount paid, and any remaining balance. 3. Kansas Affidavit As to Termination of Production Payment due to Lease Assignment: In some cases, a lease agreement may be assigned or transferred to a new party. If this happens, the production payment obligation may need to be terminated, and this type of affidavit is used to accomplish that. It includes details regarding the assignment or transfer and states that the production payment obligation no longer applies. 4. Kansas Affidavit As to Termination of Production Payment by Mutual Consent: This type of affidavit is used when both parties involved in the production payment agreement mutually agree to terminate the payment obligation. It typically includes a section where both parties sign and declare their consent to termination. Executing a Kansas Affidavit As to Termination of Production Payment correctly is crucial to ensure the legal termination of the payment obligation. It is advisable to seek legal advice or assistance to draft and execute this document accurately, considering the unique circumstances of each case.