[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR3135.1-1]



[Page 391]

 

                    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]