Assignments
Rights acquired in a UT lease may be assigned. However, in order to be valid and effective, the assignment must be filed in the county or counties in which the UT lease is located, and a legible copy of the recorded assignment along with a summary must be filed with University Lands Accounting. The filing fee, as adopted by the Board for Lease of University Lands on May 19, 1998, is $30.00 for each UT lease assigned. A late filing penalty equal to the filing fee is due for assignments received in University Lands Accounting ninety (90) days after the document is filed for record in the county or counties.
Stipulation of Interest Affidavit
A stipulation of interest affidavit may be filed in place of an assignment when it is impossible to locate parties or obtain an assignment. Recordation requirements, filing and late filing fees are the same as for assignments.
TopMergers
Use the assignment summary to report a change in ownership or change in the name of the lessee as a result of a merger. Recordation requirements, filing and late fees are the same as for assignments.
Company Name Change
To ensure that the University Lands Accounting title records reflect the current company name, submit a legible copy of the name change document, which has been previously filed, with the Secretary of State, State of Texas.
Prepare and submit a list of the University leases affected. No filing fee is required.
Relinquishments
Any rights acquired in a UT lease may be relinquished. However, in order to be valid and effective, the relinquishment must be filed in the county or counties in which the lease is located, and a legible copy of the recorded instrument filed with University Lands Accounting. No filing fee is required.
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