Title 43: Public Lands: Interior
PART 3130—OIL AND GAS LEASING: NATIONAL PETROLEUM RESERVE, ALASKA
Subpart 3135—Transfers, Extensions, Consolidations, and Suspensions
Browse Previous | Browse Next
§ 3135.1-1 Transfers.
(a) Subject to approval of the authorized officer, a lessee may transfer his/her lease(s), or any undivided interest therein, or any legal subdivision, to anyone qualified under §§3130.1 and 3132.4 of this title to hold a lease.
(b) Any approved transfer shall be deemed to be effective on the first day of the lease month following its filing in the proper BLM office, unless, at the request of the parties, an earlier date is specified in the approval.
(c) The transferor shall continue to be responsible for all obligations under the lease accruing prior to the approval of the transfer.
(d) The transferee shall be responsible for all obligations under the lease subsequent to the effective date of a transfer, and shall comply with all regulations issued under the Act.
(e) When a transfer of operating rights (sublease) is approved, the sublessee is responsible for all obligations under the rights transferred to the sublessee.
(f) Transfers are approved for administrative purposes only. Approval does not warrant or certify that either party to a transfer holds legal or equitable title to a lease.
[46 FR 55497, Nov. 9, 1981, as amended at 53 FR 17359, May 16, 1988; 53 FR 31867, Aug. 22, 1988]
