This form is used when an Agent declares and acknowledges that the consideration for an Assignment should accrue to the benefit of Principal, and that Principal is the owner of the reserved interest in the Assignment. To give effect to declaration, Agent, as Assignor, grants, sells, and assigns to Principal, as Assignee, all of Agent's interest in the Lease and the interest reserved by Agent in the Assignment.
Kings New York Declaration That Oil and Gas Lease Was Acquired by Agent For Principal is a legal document that pertains to the acquisition of oil and gas lease by an agent on behalf of a principal in Kings County, New York. This declaration outlines the specifics of the lease agreement, the parties involved, and the agent's authorization to act on behalf of the principal. Keywords: Kings New York Declaration, oil and gas lease, acquired, agent, principal, legal document, lease agreement, parties involved, authorization, Kings County. Types of Kings New York Declaration That Oil and Gas Lease Was Acquired by Agent For Principal: 1. Individual Principal: This type of declaration pertains to an individual who acts as the principal and authorizes an agent to acquire an oil and gas lease on their behalf. The declaration highlights the individual's details, including name, address, and capacity as the principal. 2. Corporate Principal: In cases where a corporation or business entity is the principal, this type of declaration is used. It outlines the company's name, registered address, and includes relevant details about the authorized agent acting on its behalf. 3. Joint Principal: In situations where multiple individuals or entities jointly own the oil and gas lease, a joint principal declaration is used. This document states the names of all joint principals, their respective interests, and the authorized agent's role in acquiring the lease. 4. Limited Power of Attorney Principal: This type of declaration involves a principal who grants a limited power of attorney to an agent. The document outlines the scope and limitations of the agent's authority to acquire the oil and gas lease on their behalf. 5. General Power of Attorney Principal: In some cases, a principal may grant a general power of attorney to an agent, providing them with broad authority to act on their behalf. The declaration highlights the agent's power and specifies their ability to acquire oil and gas leases. These various types of declarations cater to different scenarios where an agent is authorized by a principal to acquire an oil and gas lease in Kings County, New York. They ensure transparency and clarify the rights, responsibilities, and limitations of all parties involved.
