Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-189
• 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 is for the purpose of recognizing receipt of a rental or royalty payment and deem the Lease to be in force and effect as a result of that payment. The Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is a legal document used to confirm the receipt of rental or shut-in payments by a lessor in the state of Kentucky. This affidavit serves as proof that the lessor has received the agreed-upon payments from the lessee. Keywords: Kentucky, affidavit, receipt, rental, shut-in payment, lessor, lessee. Types of Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor: 1. Rental Payment Affidavit: This type of affidavit is used when the lessor acknowledges the receipt of rental payments from the lessee. It confirms that the agreed-upon rental amount has been received and acknowledges the fulfillment of the lessee's payment obligation. 2. Shut-In Payment Affidavit: This type of affidavit is employed when the lessor receives shut-in payments from the lessee. Shut-in payment refers to a reduced or suspended rental payment when the lessee is unable to extract or produce oil, gas, or minerals from the leased property due to operational or market constraints. This affidavit affirms that the shut-in payment has been received by the lessor. 3. Combined Rental and Shut-In Payment Affidavit: In certain cases, both rental payments and shut-in payments may be involved. This type of affidavit is utilized to confirm the receipt of both types of payments by the lessor. It clearly states the details of rental payments received as well as any applicable shut-in payments. It is essential to accurately complete and sign the Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor to ensure legal compliance and transparency in the payment process. The completed affidavit should be kept as a record of payment for both the lessor and lessee for future reference or disputes.

The Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is a legal document used to confirm the receipt of rental or shut-in payments by a lessor in the state of Kentucky. This affidavit serves as proof that the lessor has received the agreed-upon payments from the lessee. Keywords: Kentucky, affidavit, receipt, rental, shut-in payment, lessor, lessee. Types of Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor: 1. Rental Payment Affidavit: This type of affidavit is used when the lessor acknowledges the receipt of rental payments from the lessee. It confirms that the agreed-upon rental amount has been received and acknowledges the fulfillment of the lessee's payment obligation. 2. Shut-In Payment Affidavit: This type of affidavit is employed when the lessor receives shut-in payments from the lessee. Shut-in payment refers to a reduced or suspended rental payment when the lessee is unable to extract or produce oil, gas, or minerals from the leased property due to operational or market constraints. This affidavit affirms that the shut-in payment has been received by the lessor. 3. Combined Rental and Shut-In Payment Affidavit: In certain cases, both rental payments and shut-in payments may be involved. This type of affidavit is utilized to confirm the receipt of both types of payments by the lessor. It clearly states the details of rental payments received as well as any applicable shut-in payments. It is essential to accurately complete and sign the Kentucky Affidavit As to Receipt of Rental / Shut-In Payment by Lessor to ensure legal compliance and transparency in the payment process. The completed affidavit should be kept as a record of payment for both the lessor and lessee for future reference or disputes.