The Kings New York Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is a legal document used in the state of New York to acknowledge the receipt of rental or shut-in payments by the lessor. This affidavit serves as proof of payment and protects both the lessor and the lessee in any potential disagreements or disputes. The Kings New York Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is an important document for landlords or lessors who rent out their properties or equipment, such as oil or gas wells, to tenants or lessees. It ensures that the lessor formally acknowledges the receipt of rental or shut-in payments from the lessee. This affidavit includes specific details such as the date of payment, the amount paid (both in words and numbers), the name of the person making the payment, and any relevant invoices or receipts. It also includes the lessor's affirmation that they have received the payment in full and that there are no outstanding dues or disputes regarding the payment. There are different types of Kings New York Affidavit As to Receipt of Rental / Shut-In Payment by Lessor, depending on the nature of the rental or shut-in agreement. Some common variations include: 1. Residential Rental Affidavit: This type of affidavit is used for residential rental properties such as apartments, houses, or condos. It ensures that the lessor acknowledges the receipt of rental payments from the tenant and serves as proof of payment. 2. Commercial Rental Affidavit: This affidavit is used for commercial rental properties, including offices, stores, warehouses, or any other commercially leased space. It confirms that the lessor has received the rental payment from the tenant as agreed upon in the lease agreement. 3. Oil/Gas Shut-In Payment Affidavit: This particular type of affidavit is used in situations where oil or gas wells are temporarily shut down due to various reasons, such as maintenance, repairs, or adverse market conditions. It serves as documentation of the receipt of shut-in payments by the lessor during the shut-in period. Overall, the Kings New York Affidavit As to Receipt of Rental / Shut-In Payment by Lessor is a critical legal document that ensures transparency and accountability in lease agreements. By formally acknowledging the receipt of rental or shut-in payments, it establishes a clear record of financial transactions and safeguards the interests of both parties involved.
Kings New York Affidavit As to Receipt of Rental / Shut-In Payment by Lessor
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FAQ
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.
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.
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.
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.
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.
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.
