4.4 ENCUMBRANCES-LEASES
Problem A:
Should an oil, gas or coal lease be shown when satisfactory evidence is furnished that rentals are in default and that minerals are not being produced?
Standard A:
No, provided further that the primary term of the lease has expired.
Comment A:
See R.C. Sec. 5301.332.
(Effective as amended May 20, 1965; originally effective May 21, 1953)
Problem B:
May an examiner omit from his opinion reference to a recorded lease when the terms expressed in the lease have expired?
Standard B:
Yes, in the absence of notice of renewal arising from possession, record or otherwise.
(Effective November 12, 1960)
1700 Lake Shore Drive Columbus, Ohio 43204
1-800-282-6556
Contact Information
osba@ohiobar.org
8 A.M. - 5 P.M. Monday - Friday