Santa Clara County is located in the heart of Silicon Valley, California, and is home to several cities including Santa Clara itself. Known for its vibrant tech industry, strong economy, and beautiful landscape, Santa Clara County attracts residents and businesses from all over the world. The Santa Clara California Affidavit of Nonrevocation of Power of Attorney on Date of Execution of Oil and Gas Lease is a legally binding document that ensures the validity and non-revocation of a power of attorney related to the execution of oil and gas leases within the county. This affidavit serves as proof that the power of attorney has not been revoked on the date of the execution of the lease agreement. The purpose of this affidavit is to provide assurance to all parties involved in an oil and gas lease agreement that the power of attorney holder has the authority to act on behalf of the granter, even at the time of lease execution. This document is essential for the smooth and lawful execution of oil and gas leases, as it eliminates any doubts or questions regarding the validity of the power of attorney. Keywords: Santa Clara, California, Affidavit, Nonrevocation, Power of Attorney, Execution, Oil and Gas Lease. Different types of Santa Clara California Affidavit of Nonrevocation of Power of Attorney on Date of Execution of Oil and Gas Lease may include: 1. Individual Affidavit: This type of affidavit is executed by an individual who has granted a power of attorney to represent them in matters related to oil and gas leases in Santa Clara County. 2. Corporate Affidavit: In cases where a corporation or business entity holds the power of attorney, this type of affidavit is executed to verify the non-revocation of the power of attorney on the date of lease execution. 3. Joint Affidavit: When multiple individuals or entities jointly hold a power of attorney, they may execute a joint affidavit to confirm its non-revocation at the time of lease execution. 4. General Affidavit: This is a generic affidavit used when the specific type of affidavit is not defined, but it still serves the purpose of affirming the non-revocation of the power of attorney for oil and gas lease execution in Santa Clara County. By using these keywords and understanding the different types of Santa Clara California Affidavit of Nonrevocation of Power of Attorney on Date of Execution of Oil and Gas Lease, one can craft a comprehensive and relevant description of this legal document.
Santa Clara California Affidavit of Nonrevocation of Power of Attorney on Date of Execution of Oil and Gas Lease
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FAQ
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
An affidavit is a sworn written statement. A third party may require you, as the Attorney-in-Fact, to sign an affidavit stating that you are validly exercising your duties under the Power of Attorney. If you want to use the Power of Attorney, you do need to sign the affidavit if so requested by the third party.
(a) (1) Any lease of oil or natural gas rights or any other conveyance of any kind separating such rights from the freehold estate of land shall expire at the end of ten (10) years from the date executed, unless, at the end of such ten (10) years, natural gas or oil is being produced from such land for commercial
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
The royalty. It is typically expressed as a fraction or a percentage. For many years, almost all oil and gas leases reserved a 1/8th royalty. Today, the royalty fraction is negotiable, and is usually between 1/8th and 1/4th.
If a lease is a "paid-up" lease, then the lease will remain in effect during the entire primary term with no further payments to the Lessor unless and until actual production of oil or gas is established. Page 3. 3. Shut-in royalty. After the primary term, a lease will expire unless oil or gas is being produced.
A Pugh Clause is meant to prevent a lessee from declaring all lands under an oil and gas lease as being held by production, even if production only occurs on a fraction of the property.
Memorandum of Lease. (Oil & Gas) This form is a memorandum of lease that summarizes an oil and gas lease without disclosing confidential information contained in the lease itself. It is filed in the county in which the leased property is located to put third parties on notice that a lease exists.
The primary term of a federal oil and gas lease is 10 years. The term is extended as long as the lease has at least one well capable of production. Leases do not authorize ground disturbance.
