[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3135.1-1]

[Page 380]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3130_OIL AND GAS LEASING: NATIONAL PETROLEUM RESERVE, ALASKA--Table 
of Contents
 
   Subpart 3135_Transfers, Extensions, Consolidations, and Suspensions
 
Sec. 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 Sec. Sec. 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]