4.010 Lease Executed By Commissioner Of Conservation
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Lease Executed By Commissioner Of Conservation
Lease Executed by Commissioner of Conservation and Natural Resources: Deep South E&P acquired Lease 1, which covers the interests of the Alabama Department of Mental Health in Tract 1, from the Alabama Director of Conversation by instrument dated September 14, 2009, and recorded in Real Property Book 2009, page 151. Lease 1 does not indicate on its face whether or not the all requirements for the leasing of Alabama state lands were met.
Section 9-15-71 of the Code of Alabama (1975), requires that the sale of any state lands valued at $20,000 or more to be by advertized auction or advertized competitive sealed bid. The Lands Division of the Alabama Department of Conservation is to handle the sale or lease. Ala. Code § 9-15-72 (1975). Sections 9-15-73 through 9-15-84 of the Code of Alabama (1975) address other aspects of the sale or leasing of public lands.
Requirement: Furnish proof of the compliance will all requirements of Ala. Code §§ 9-15-71 – 9-15-84 (1975) or accept the risk of title failure to Lease 1.
Copyright 2011 by Edward G, Hawkins. All rights reserved.