Lease legality

As I understand usual leases, all parties to the agreement sign. In a typical gas lease, the land owner signs, and is witnessed by the landsman. The actual oil/gas company doesn't sign. Does this make the lease either illegal, or less binding, or act as a weasel clause for the oil company to walk away from property/aquifer destruction claims? Clarification would be most appreciated.
Dan

Views: 272

Comment

You need to be a member of GoMarcellusShale.com to add comments!

Join GoMarcellusShale.com

Comment by daniel cohen on February 10, 2010 at 7:54am
Dear Drillman,
Thank you for the corrections/clarifications. They are appreciated.
Dan
Comment by drillman on February 10, 2010 at 6:34am
Dan:
When a property transfer (as in a typical transfer of real estate) occurs, only the Grantor executes the deed. The grantee is not required to execute. Same with a lease (gas, rental or otherwise) where the Grantor executes but rarely does the Grantee execute the same document. Your understanding is incorrect. This again leads me to believe that you are making allegations that are not accurate and true rather your reacting to what you "think" something should be. To answer your question: No, it does not make the lease illegal or less binding. I encourage you to continue to educate yourself on this process. Lastly, their called "landmen" not "landsmen."
Comment by Francis L. Warder, Jr. on November 17, 2009 at 9:41am
You need to seek legal advice and leave the legal questions to the professionals.

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service