Q: Would it be acceptable for us to record a "Memorandum of Option To Exercise Oil, Gas, & Mineral Lease?" Thanks!
We thought it would be best to get it on record, but wish to keep the terms confidential. What do you think?
A: Filing a memorandum in the county deed records is certainly used to give notice of an agreement without disclosing the precise terms. However, before you do that, have an oil and gas attorney review the option itself, as well as take a look a Texas court decisions, to make sure you are not going to be in violation of the option agreement by filing the memorandum.
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