If your lease expired, then request a "Surrender of Lease"

A second wave of leasing activity is happening throughout Northeastern Pennsylvania.  If you leased your property in 2008 for a five year primary term, the lease will expire unless the Lessee has commenced drilling operations, declared your acreage in a unit, or extended the lease by other provisions.  If the current lease has an option to extend for an additional period of time, be certain that you are aware of the current expiration date and the terms required for the Lessee to exercise the extension option.  At the expiration date, it is the landowner’s burden to request a Surrender of Lease document to record in the Recorder of Deeds Office.  The Surrender document is important; it is notice that your property is not subject to an active lease, and is available for leasing.

Feel free to use the attached example as a request for your surrender.  Send to the Lessee of record - the Surrender Request via Certified Mail with return receipt requested and retain a copy of the letter, post office receipt and tracking number.

Should you need guidance or assistance with the surrender request or with seeking best offers, contact me at gsgass@gmail.com

Gregory S. Gass

Certified Professional Landman

Fairchase Associates, LLC

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Permalink Reply by G S Gass on October 23, 2014 at 11:55am

Due to leasing activity ramping up in Tioga and Potter Counties, I thought it would be appropriate to refresh this posting.

It is crucial for landowners to request a surrender of any expired leases.  

The original posting contains a generic Surrender Request letter and I encourage you to use it.

Do it now, so your property will appear open and available for leasing.  

Fairchase Associates is representing landowners throughout Tioga and Potter Counties to negotiate best offers on behalf of its landowner clients. 

Should you need guidance or assistance with the surrender request or with seeking best offers, contact me at gsgass@gmail.com

Gregory S. Gass

Certified Professional Landman

Fairchase Associates, LLC

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