Louisiana Revised Statutes 41:1216 – Restrictions of area, number, and transfer of leases; subleases
Terms Used In Louisiana Revised Statutes 41:1216
- 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
A. In order to allow the individual lessee to lease lands from the state in preference to syndicated landholders or corporations, no lease shall cover a larger area than six hundred forty acres of public land, which area must be contiguous. No lessee may own more than one such lease at one time. All leases made under the terms of this Part shall be heritable, but may not be mortgaged, pledged, hypothecated, subjected to seizure and sale, subleased, transferred, or assigned, except as provided in Subsection B of this Section.
B. Subject to the prior written approval of the lessor, as defined in La. Rev. Stat. 41:1211, or its successor in office, all leases made under the terms of this Part may be subleased, transferred, or assigned by the original lessee, his sublessees, heirs, or assigns, and likewise may be mortgaged, pledged, hypothecated, or subjected to seizure and sale. The lessor is authorized to permit such transfers of leases upon such terms and conditions as it may deem proper, provided that said sublessees, transferees, assignees, mortgagees, or pledgees are entitled to the same rights and privileges as were granted by the lessor to the original lessee and specifically those granted to the original lessee under the provisions of La. Rev. Stat. 41:1222(A). The lessor is directed to collect a fee of ten dollars for the privilege of permitting such transfers, said fee to be paid into the general fund of the state.
Amended by Acts 1970, No. 58, §1; Acts 1981, No. 330, §1.