Colorado § 38-42-106 - Record of lease no longer notice unless affidavit recorded.

§ 38-42-106. Record of lease no longer notice unless affidavit recorded.

(1) The lessee of any oil, gas, or other mineral lease given on or after March 28, 1967, on land situated in this state or any owner of a partial interest in such lease shall, prior to the expiration of six months after the expiration of the primary or definite term set forth in the lease, record in the office of the county clerk and recorder of the county wherein such land is situate an affidavit if the affiant claims an extension of the term of the lease beyond the primary or definite term thereof. If no such affidavit is recorded, then six months after the expiration of the primary or definite term of such lease, the record thereof, if any, shall cease to be notice and shall have no more effect than an unrecorded instrument.

(2) The lessee of any oil, gas, or other mineral lease given prior to March 28, 1967, on land situated in this state or any owner of a partial interest in such lease shall, within six years after March 28, 1967, or prior to the expiration of six months after the expiration of the primary or definite term set forth in the lease, whichever is later, record in the office of the county clerk and recorder of the county wherein such land is situate an affidavit if the affiant claims an extension of the term of the lease beyond the primary or definite term thereof. If such affidavit is not so recorded, then after the expiration of such six-year period, or six months after the expiration of the primary or definite term set forth in the lease, whichever is later, the record of such lease, if any, shall cease to be notice and shall have no more effect than an unrecorded instrument.

Source: L. 67: p. 160, § 1; C.R.S. 1963: § 118-13-6.

ANNOTATION

Law reviews. For article, "Top Leasing for Oil and Gas: The Legal Perspective", see 59 U. Den. L.J. 641 (1982).

ARTICLE 43

Oil, Gas, and Other Natural Resources - Leases

38-43-101. Appointment of trustee to make oil, gas, or other mineral lease where contingent future interests are involved.

38-43-102. Parties - representation of minors, persons of unsound mind, and persons not in being.

38-43-103. Contents of complaint.

38-43-104. Private or public sale of lease.

38-43-105. Terms of lease: Pooling and unitization.

38-43-106. Trustees - control of court, removal or resignation, successor, bond, compensation.

38-43-107. Title of purchaser.

38-43-108. Disposition of proceeds.

38-43-109. Remedies herein provided cumulative, contracts and options.