Leasing Checklist

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Leasing Checklist

 

The following checklist may be helpful to persons acquiring oil and gas leases in Alabama or to person reviewing the validity of Alabama oil and gas leases that have been acquired:

□        Lessor

□        identity

□        spouse

□        Date

□        bfp; recording

□        words of lease

□        property description

□        state and county

□        township and range

□        governmental description or metes and bounds

□        center-line and road problem

□        form

□        primary term

□        royalty

□        delay rents / shut-in royalty

□        pooling

□        entireties clause

□        warranty

□        additions or deletions

□        execution

□        acknowledgment

□        witnesses (2 if “X” and “his mark”)

□        quantum granted (property - or - “all lessor’s right, title . . .)

□        mineral documentary tax

□        homestead (Ala. Code § 6-10-3; acknowledgment - husband and wife)

□        prior, uncancelled oil, gas, and mineral leases

□        recorded within one year (Ala. Code §35-4-6 (1975))

□        corporate lessee – qualified to do business

Copyright 2011 by Edward G, Hawkins. All rights reserved.