Mississippi Affidavit As to Termination of Production Payment

State:
Multi-State
Control #:
US-OG-171
Format:
Word; 
Rich Text
Instant download

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. A Mississippi Affidavit As to Termination of Production Payment is a legal document filed in the state of Mississippi to terminate or release a production payment on real estate. It is essential to understand the specific requirements and guidelines pertaining to this affidavit for successful termination of the production payment. Here is a detailed description of what a Mississippi Affidavit As to Termination of Production Payment entails: Keywords: Mississippi, Affidavit, Termination of Production Payment, Real Estate What is a Mississippi Affidavit As to Termination of Production Payment? A Mississippi Affidavit As to Termination of Production Payment is a legal document used to formalize the termination or release of a production payment on real estate located in Mississippi. A production payment is a contractual obligation that grants the holder a particular portion of the mineral or oil production from a specific property. Requirements for Filing the Affidavit: To file a Mississippi Affidavit As to Termination of Production Payment, certain requirements must be met: 1. Accurate Identification: The affidavit must accurately identify the property in question, providing essential details such as its legal description and any relevant county or municipality. 2. Complete Ownership Information: The affidavit should include detailed information about the current owner(s) of the property, including their full legal names and contact information. 3. Production Payment Description: The affidavit must provide a clear description of the production payment being terminated, including its original effective date and any recorded document references. 4. Execution and Notarization: The affidavit must be signed by the current owner(s) of the property and notarized. Types of Affidavits As to Termination of Production Payment: While there aren't necessarily different types of Mississippi Affidavits As to Termination of Production Payment, variations may arise based on specific circumstances. Some situations that may require additional considerations include: 1. Partial Termination: In certain cases, an affidavit may be filed to terminate only a portion of the production payment, allowing the remaining portion to continue as per the agreement. 2. Disputed Termination: If there is a dispute between parties regarding the validity or termination of a production payment, a separate affidavit may be necessary to resolve the dispute. 3. Specific County Requirements: Different counties in Mississippi may have their own additional requirements or forms for filing an Affidavit As to Termination of Production Payment. It is important to research and follow the specific guidelines of the county where the property is located. Conclusion: A Mississippi Affidavit As to Termination of Production Payment is a crucial legal document used to terminate or release a production payment on real estate in Mississippi. Compliance with the necessary requirements and guidelines is essential to ensure a valid and enforceable termination. It is advisable to consult with an attorney or conduct thorough research to understand the specific procedures in the relevant county.

A Mississippi Affidavit As to Termination of Production Payment is a legal document filed in the state of Mississippi to terminate or release a production payment on real estate. It is essential to understand the specific requirements and guidelines pertaining to this affidavit for successful termination of the production payment. Here is a detailed description of what a Mississippi Affidavit As to Termination of Production Payment entails: Keywords: Mississippi, Affidavit, Termination of Production Payment, Real Estate What is a Mississippi Affidavit As to Termination of Production Payment? A Mississippi Affidavit As to Termination of Production Payment is a legal document used to formalize the termination or release of a production payment on real estate located in Mississippi. A production payment is a contractual obligation that grants the holder a particular portion of the mineral or oil production from a specific property. Requirements for Filing the Affidavit: To file a Mississippi Affidavit As to Termination of Production Payment, certain requirements must be met: 1. Accurate Identification: The affidavit must accurately identify the property in question, providing essential details such as its legal description and any relevant county or municipality. 2. Complete Ownership Information: The affidavit should include detailed information about the current owner(s) of the property, including their full legal names and contact information. 3. Production Payment Description: The affidavit must provide a clear description of the production payment being terminated, including its original effective date and any recorded document references. 4. Execution and Notarization: The affidavit must be signed by the current owner(s) of the property and notarized. Types of Affidavits As to Termination of Production Payment: While there aren't necessarily different types of Mississippi Affidavits As to Termination of Production Payment, variations may arise based on specific circumstances. Some situations that may require additional considerations include: 1. Partial Termination: In certain cases, an affidavit may be filed to terminate only a portion of the production payment, allowing the remaining portion to continue as per the agreement. 2. Disputed Termination: If there is a dispute between parties regarding the validity or termination of a production payment, a separate affidavit may be necessary to resolve the dispute. 3. Specific County Requirements: Different counties in Mississippi may have their own additional requirements or forms for filing an Affidavit As to Termination of Production Payment. It is important to research and follow the specific guidelines of the county where the property is located. Conclusion: A Mississippi Affidavit As to Termination of Production Payment is a crucial legal document used to terminate or release a production payment on real estate in Mississippi. Compliance with the necessary requirements and guidelines is essential to ensure a valid and enforceable termination. It is advisable to consult with an attorney or conduct thorough research to understand the specific procedures in the relevant county.

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Mississippi Affidavit As to Termination of Production Payment