Texas Affidavit as to Termination of Production Payment is a legal document commonly used in the state of Texas that provides a detailed explanation of the termination of production payments related to oil, gas, or mineral rights. This affidavit is crucial for terminating and releasing any claims or liabilities associated with production payments. In the oil and gas industry, production payments refer to a financial arrangement where the owner of the oil, gas, or mineral rights receives a percentage of the production revenues as compensation. However, there may be situations where these production payments need to be terminated, typically due to the expiration of the agreed-upon production period, fulfillment of contractual obligations, or other legal reasons. When drafting a Texas Affidavit as to Termination of Production Payment, it is essential to include specific keywords such as: 1. Affine: The individual(s) providing the affidavit and their identification details. 2. Affidavit Purpose: Clearly state that the document serves to terminate and release any claims related to production payments. 3. Effective Date: The date when the termination of production payments becomes valid. 4. Property Description: Include a detailed description of the property (oilfield, gas well, mineral site) where the production payments were originally agreed upon. 5. Granter and Grantee Information: Include the identities and contact details of the parties involved (granter — owner of the production rights, grantee — recipient of the production payments). 6. Termination Clause: Clearly state the reason(s) for termination, such as expiration of the production period, full payment fulfillment, or any other legally justifiable grounds. 7. Release of Production Payment Obligations: Explicitly state that the granter releases the grantee from any future production payment obligations associated with the property. 8. Governing Law: Emphasize that the Texas laws govern the interpretation, validity, and execution of this affidavit. It is important to note that different types of Texas Affidavits as to Termination of Production Payment may exist based on the specific circumstances of the termination. Some potential variations include affidavits for the termination of production payments due to expiration, affidavits for termination after reaching a specific production threshold, and affidavits for termination resulting from a lawful breach of contract. To ensure accuracy and legal compliance, it is recommended to consult an attorney or an expert in oil, gas, or mineral rights law while drafting or using a Texas Affidavit as to Termination of Production Payment.
Texas Affidavit As to Termination of Production Payment
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How to fill out Texas Affidavit As To Termination Of Production Payment?
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To file an affidavit of non-prosecution in Texas, the alleged victim must contact the appropriate District Attorney's Office or contact a private attorney who can file it on their behalf.
Notarizing an affidavit Once you have filled out the important details on the general affidavit, you must have the document notarized, for which you must appear in person at a notary public in Texas. The notary must verify your identity and see you sign the general affidavit form.
