§ 47-16-40 — Record of lease as notice for definite term - Extension upon contingency - Affidavit

North Dakota § 47-16-40

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-16: Leasing of Real Property

Text

Affidavit.
When an oil, gas, or mineral lease is hereafter given on land situated within the state of
North Dakota, the recording thereof in the office of the recorder of the county in which the land
is located shall impart notice to the public of the validity and continuance of said lease for the
definite term therein expressed, but no longer. If such lease contains the statement of any
contingency upon the happening of which the term of any such lease may be extended, such
as, and as much longer as oil and gas or either are produced in paying quantities, the owner of
said lease may at any time before the expiration of the definite term of said lease file with said
recorder an affidavit setting forth the description of the lease, that the affiant is the owner thereof
and the facts showing that the required contingency has happened. This affidavit shall be
recorded in full by the recorder, and such record together with that of the lease shall be due
notice to the public of the existence and continuing validity of said lease, until the same shall be
forfeited, canceled, set aside, or surrendered according to law.