Rights acquired in a University Lands (UL) lease may be assigned. However, in order to be valid and effective, the assignment must be filed in the county or counties in which the lease is located, and a legible copy of the recorded assignment along with a summary must be filed. The filing fee is $30.00 for each lease assigned. Penalties for late filings will be assessed on a case by case basis.

A stipulation of interest affidavit may be filed in place of an assignment when it is impossible to locate parties or obtain an assignment. Recordation requirements, filing and late filing fees are the same as for assignments.

Use the Assignment Form UT-4 to report a change in ownership or change in the name of the lessee as a result of a merger. Recordation requirements, filing and late fees are the same as for assignments.

Use the Assignment Form UT-4 to report a business name’s change. Submit a legible copy of the name change document, which has been previously filed with the Secretary of State for the business’s home state. Filing and late fees are the same as for assignments.

Any rights acquired in a UL lease may be relinquished. However, in order to be valid and effective, the relinquishment must be filed in the county or counties in which the lease is located, and a legible copy of the recorded instrument filed. No filing fee is required.