A Louisiana Durable Special Power of Attorney Granting Agent the Right to Execute Oil and Gas Leases, Attendant instruments, and Deal with Oil and Gas Properties is a legal document that allows an appointed agent to act on behalf of the principal in matters related to oil and gas leases and properties. This type of power of attorney is specifically tailored for individuals or entities involved in the oil and gas industry in Louisiana. By granting this authority, the principal authorizes the agent to negotiate, execute, and manage various transactions related to oil and gas leases, attendant instruments, and properties. The agent, acting as a representative of the principal, has the power to enter into and terminate oil and gas lease agreements, negotiate lease terms, handle compliance matters, and execute necessary paperwork. They may also have the authority to negotiate royalty agreements, manage property transfers, and ensure compliance with state and federal regulations. The specific terms and scope of authority granted in a Louisiana Durable Special Power of Attorney can vary depending on the needs and preferences of the principal. Some variations may include limitations on the agent's powers or specific instructions on how to handle certain aspects of oil and gas leases and properties. This legal document is essential for any principal in the oil and gas industry who wishes to delegate decision-making authority to a trusted agent. By granting a Durable Special Power of Attorney, the principal ensures that their interests are protected and that their agent can effectively act on their behalf in dealings related to oil and gas leases, attendant instruments, and properties. Keywords: Louisiana, Durable Special Power of Attorney, Granting Agent, Execute, Oil and Gas Leases, Attendant Instruments, Deal, Oil and Gas Properties, oil industry, gas industry, negotiate, manage, transactions, compliance, property transfers, royalty agreements, regulations.
Louisiana Durable Special Power of Attorney Granting Agent the Right to Execute Oil and Gas Leases, Attendant instruments, and Deal with Oil and Gas Properties
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FAQ
A power of attorney (POA) is a legal contract that gives a person (agent) the ability to act on behalf of someone (principal) and make decisions for them. Short answer: The principal who is still of sound mind can always override a power of attorney.
Hear this out loud PauseYour POA must be in written form. Verbal POAs are not valid in Louisiana. You must notarize all of your POA documents, even the copies, in order to ensure it is certified under Louisiana law. Notarizing your documents means signing the document in front of a notary and two witnesses.
There is no ?Durable Power of Attorney? in Louisiana, as, unless otherwise stated, all contracts of Mandate survive incapacity. They become invalid upon death.
Hear this out loud PauseIf a loved one cannot direct their own healthcare, someone else may need to make the big health care decisions in their place. Louisiana law allows those decisions to be made under what is known as a ?durable power of attorney.? Here is a brief overview of attorney laws in Louisiana.
Hear this out loud PauseWhat is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.
Fee Schedule Filing a Civil Action or Notice of Removal$405.00Power of Attorney$52.00Admission of attorney to practice$199.00Admission to practice pro hac vice, per attorney$100.00Duplicate certificate of admission$21.0019 more rows
Your POA must be in written form. Verbal POAs are not valid in Louisiana. You must notarize all of your POA documents, even the copies, in order to ensure it is certified under Louisiana law. Notarizing your documents means signing the document in front of a notary and two witnesses.
Hear this out loud PauseAlso known as a Mandate or Procuration in Louisiana, a properly drafted POA allows you to designate another person of your choice to make financial and health care decisions, as well as manage your affairs in case you become incapacitated. The person you choose is then referred to as an agent or attorney-in-fact.