This bill amends West Virginia Code §40-1-8 to enhance the requirements for recording mineral leases. It stipulates that all mineral leases must identify and list any potential burdens that may encumber the surface overlaying the leased minerals. These burdens can include pipelines, well pads, storage pads, equipment, fixtures, fluid impoundments, and access roads. If no such surface encumbrances exist, the lease must explicitly state that.

Additionally, the bill modifies the language regarding the recording of leases and the information that must be included in a memorandum of lease. It replaces the term "such parties" with "the parties" and clarifies that the memorandum must contain specific details about the lease, including the names and addresses of the lessor and lessee, the lease's execution date, a description of the leased premises, and the lease term with any rights of extension or renewal. The purpose of these changes is to ensure that potential surface encumbrances are clearly documented, providing better notice to creditors and purchasers regarding the status of mineral parcels under development.

Statutes affected:
Introduced Version: 40-1-8