I just got a new lease offer but the lease I have now just ended its primary term in November. They have an option for 2 more years but I have not heard anything from them. Do I need to contact them about this offer or do I assume they are not interested anymore? Not sure what the correct protocol is here.
Dear Gary,
The proper move is to send a letter to the operator demanding a release of the lease. That removes any cloud on your title and enables you to cleanly lease your property in the future.
Best
Buddy CottenYou can assume that they are not interested, because in general they would have exercised the option before the end of the primary term of the lease, or in accordance with however the option clause in the lease reads. If it has a different or unusual reading, feel free to post it.
As far as the release goes, that is, of course, preferable. The question has come up in the past, if you do not receive a release, can you legally lease it? My reply would be yes. Others seem to believe that no one would ever contact you about a lease without a recorded release. I would have to disagree with that. If you can not obtain a timely release, you might file an Affidavit stating that the original lessee never exercised the option to extend, and that the lease has expired of its own terms.