The Bexar Texas Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is a legal document that serves as proof of payment received by the lessor from the lessee for rental or shut-in payments. It is commonly used in Bexar County, Texas, to establish a record of financial transactions related to rental properties or shut-in operations. This affidavit is crucial for both lessors and lessees to maintain proper documentation of their financial dealings and to avoid any potential disputes or misunderstandings in the future. It ensures a transparent and accountable relationship between the parties involved. Keywords: Bexar Texas, Affidavit, receipt, rental, shut-in payment, lessor, lessee, legal document, proof, transaction, financial dealings, disputes, accountable, documentation, relationship. Different types of Bexar Texas Affidavit As to Receipt of Rental / Shut-In Payment by Lessor may include: 1. Affidavit As to Receipt of Rental Payment: This type of affidavit is used when the lessor acknowledges receiving rental payments from the lessee for a specific period. It outlines the details of the payment, such as the amount, date, and any additional notes relevant to the transaction. 2. Affidavit As to Receipt of Shut-In Payment: This type of affidavit is required when the lessee is unable to produce oil, gas, or any other resources from the leased property due to specific circumstances, such as market conditions or technical issues. The lessor acknowledges receiving the agreed-upon shut-in payments during this period. 3. Affidavit As to Receipt of Rental and Shut-In Payment: In some cases, a combined affidavit is used when both rental and shut-in payments are involved. This document acknowledges the receipt of both types of payments separately and provides a comprehensive record of financial transactions between the lessor and lessee. 4. Affidavit As to Receipt of Additional Payments: This type of affidavit focuses on any additional payments made by the lessee to the lessor, such as maintenance fees, repair expenses, or property improvement costs. It ensures that these additional payments are acknowledged and properly recorded. By utilizing these affidavits, lessors and lessees can maintain accurate financial records and establish legal evidence of payment receipt in Bexar County, Texas, ensuring a smoother and more transparent rental or shut-in agreement.
Bexar Texas Affidavit As to Receipt of Rental / Shut-In Payment by Lessor
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FAQ
In such circumstances where a gas well has been completed but no market exists for the gas, the shut-in clause enables a lessee to keep the non-producing lease in force by the payment of the shut-in royalty.
Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.
Shut in a well in the Oil and Gas Industry (0283028ct 026an 0259 w025bl) phrase. (Extractive engineering: Field development, Drilling) To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time.
After obtaining production from a previously shut-in well, the well may be shut in again for a maximum term of five years as provided in the lease and subsection (h)(1) of this section.
Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.
In the petroleum industry, shutting-in is the implementation of a production cap set lower than the available output of a specific site. This may be part of an attempt to constrict the oil supply or a necessary precaution when crews are evacuated ahead of a natural disaster.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
Shut in a well in the Oil and Gas Industry To shut in a well is to close off a well so that it stops producing. well. Related wordsTo cap a well also means to seal a well off and to kill a well is to stop it from flowing by the use of mud or water to stop the pressure.
