Colorado Statutes
§ 38-42-101 — Lease with option to purchase, title requirements
Every oil and
gas or mining lease containing any provision whereby the lessor grants and sells to
the lessee therein a right or option, at any time during the term thereof or any
extensions or renewals thereof, to purchase any part of the lessor's mineral or
royalty interest in, on, or under the leased premises shall clearly state in the
heading or title of the lease that such right or option is contained therein; but the
customary provision contained in such leases permitting the lessee to purchase or
sell the lessor's share of production and to account to lessor for the proceeds
thereof shall not be deemed to be such a right or option.
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Legislative History
Source: L. 55: p. 724, � 1. CRS 53: � 118-13-1. C.R.S. 1963: � 118-13-1.
Nearby Sections
15
§ 38-1-101.5
Necessity of taking land for pipelines§ 38-1-101.7
Limitations on the use of right-of-way§ 38-1-102
Petition - contents - parties§ 38-1-103
Summons - return - publication§ 38-1-104
Trial - amendments - rules§ 38-1-106
Jury§ 38-1-108
Order of possession§ 38-1-109
Intervention - cross petition§ 38-1-110
Appellate review§ 38-1-111
Possession pending appeal§ 38-1-112
Payment to clerk or owner§ 38-1-113
Verdict recorded§ 38-1-115
Contents of report or verdict