Louisiana Revised Statutes 30:1165 – A. To the extent of the interest acquired, an assignee or sublessee acquires the rights and powers of the lessee and becomes responsible directly to the lessor for performance of the
Terms Used In Louisiana Revised Statutes 30:1165
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
A. To the extent of the interest acquired, an assignee or sublessee acquires the rights and powers of the lessee and becomes responsible directly to the lessor for performance of the lessee’s obligations. Except as otherwise expressly agreed to in writing by the lessor, an assignor or sublessor is not relieved of his obligations or liabilities under a renewable energy lease unless the lessor has discharged him expressly and in writing in a separate instrument executed at the time of the assignment or sublease or thereafter. The lessor shall not unreasonably withhold the discharge. A partial assignment or partial sublease does not divide a renewable energy lease. A renewable energy lease lessor shall accept performance by an assignee or sublessee whether or not the assignment or sublease is filed for registry.
B. If the assignor assigns his rights in the renewable energy lease, the assignor shall provide to the lessor a notice of assignment containing the name, address, phone number, and email address of the assignee. The assignee or his operator shall comply with all applicable requirements of La. Rev. Stat. 30:1154.
Acts 2023, No. 455, §1, eff. June 28, 2023.