What If Lease Is Not Filed?

[barbers]

What is the name of your state?In Texas, an oil/gas lease in which I own a Royalty Interest is not filed of record in the county deed records. Only a "Memorandum" of the lease is on file. It is basically only a property description. Is an unfiled lease still valid? Is it valid only on the lessor and lessee, and not on third parties? Any other implications of an unfiled lease?

 

[seniorjudge]

What is the name of your state?In Texas, an oil/gas lease in which I own a Royalty Interest is not filed of record in the county deed records. Only a "Memorandum" of the lease is on file. It is basically only a property description. Is an unfiled lease still valid? Is it valid only on the lessor and lessee, and not on third parties? Any other implications of an unfiled lease?

Check to see if the recorded memorandum incorporates by reference the terms of the actual lease.

 

[barbers]

Check to see if the recorded memorandum incorporates by reference the terms of the actual lease.

Yes, it does. Is that all it takes to make the terms of the lease valid -- and valid to all affected parties?

 

[seniorjudge]

Q: Is that all it takes to make the terms of the lease valid -- and valid to all affected parties?

A: I have no idea if the terms of the lease are valid since I have never read it. However, from what you say, it appears that there is public notice of the terms of the lease on record in the land deed records of your county.