Recorded lease
Does a recorded lease have to be canceled at the clerks office like a mortgage must be if it's no longer valid?
A mortgage note (original) that has passed it's final paid off term date or has been satisfied will cloud a title if it isn't officially canceled.
Would it be the same for an expired lease that hasn't been canceled?
A mortgage note (original) that has passed it's final paid off term date or has been satisfied will cloud a title if it isn't officially canceled.
Would it be the same for an expired lease that hasn't been canceled?
Views: 69
Replies to This Discussion
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landownerPermalink Reply by P.G. on -
What if the lease has been assigned and the original lessee doesn't have the original or rights anymore.
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Permalink Reply by Ed Hill on
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P.G.
The articles of the Louisiana Mineral Code that apply to your questions are Articles 206 through 209. Should you send a demand letter for release and the last owner of record fail to respond to your demand letter, he will be subject to the penalties set out in these particular articles.
As a side note, more often than not, companies fail to file of record a release of expired or terminated leases. However, more often than not, they will respond favorably to a demand for release from a Lessor whose lease is no longer in effect. Remeber to send your demand letter via certified mail so that the operator cannot claim that they never received your demand for release.
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