Montana Code 82-1-201. Release of record upon forfeiture, cancellation, or expiration of lease — penalty
82-1-201. Release of record upon forfeiture, cancellation, or expiration of lease — penalty. (1) When an executed and recorded oil, gas, or other mineral lease is forfeited, canceled, or expires, it is the duty of the lessee, the lessee’s successor, or assigns, within 60 days from the date of the forfeiture, cancellation, or expiration of the lease, to have the lease or abstract of the lease released from record in the county where the leased land is situated without cost to the lessor.
Terms Used In Montana Code 82-1-201
- Gas: means all natural gases and all other fluid hydrocarbons, including methane gas or any other natural gas found in any coal formation, as produced at the wellhead and not defined as oil in subsection (3). See Montana Code 82-1-111
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Oil: means crude petroleum oil and other hydrocarbons, regardless of gravity, that are produced at the wellhead in liquid form by ordinary production methods and that are not the result of condensation of gas before or after it leaves the reservoir. See Montana Code 82-1-111
(2)A lessee may request the recordation of an assignment or release of more than one lease in a single instrument, and an instrument involving more than one lease made under this subsection must be treated for public recording purposes as a single request from the lessee.
(3)A lessee who fails to comply with subsection (1) within 30 days of written notice from the lessor is guilty of a misdemeanor punishable by a fine of up to $250.