What is a lease assignment agreement?

An assignment is when the tenant transfers their lease interest to a new tenant using a Lease Assignment. The assignee takes the assignor's place in the landlord-tenant relationship, although the assignor may remain liable for damages, missed rent payments, and other lease violations.

US Legal Forms
Assignment of Assignor's Interest in A Nonproducing Lease

Assignment of Assignor's Interest in A Nonproducing Lease

Name: Assignment of Assignor's Interest in A Nonproducing Lease
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.86 (395 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

Control #:

US-OG-263

Format:

Instant download

Description

This form is used when Assignor assigns, sells, and conveys to Assignee, an undivided working interest and net revenue interest, being all of Assignor's rights, title, and interests in an Oil and Gas Lease.

View Transfer on Death Designation Affidavit - TOD - from Individual to Four Individuals

View this form

View Release of Garnishee

View this form

View Notice of Furnishing - Corporation

View this form

View Quitclaim from Individual to Husband and Wife as Joint Tenants with Right of Survivorship

View this form

View Quitclaim Deed from Individual to Two Individuals in Joint Tenancy

View this form

How to fill out Assignment Of Assignor's Interest In A Nonproducing Lease?

When it comes to drafting a legal document, it’s better to delegate it to the specialists. However, that doesn't mean you yourself can’t find a sample to use. That doesn't mean you yourself can’t find a template to utilize, nevertheless. Download Assignment of Assignor's Interest in A Nonproducing Lease straight from the US Legal Forms website. It gives you a wide variety of professionally drafted and lawyer-approved forms and templates.

For full access to 85,000 legal and tax forms, customers just have to sign up and choose a subscription. After you’re registered with an account, log in, find a specific document template, and save it to My Forms or download it to your gadget.

To make things easier, we’ve incorporated an 8-step how-to guide for finding and downloading Assignment of Assignor's Interest in A Nonproducing Lease fast:

Be sure the document meets all the necessary state requirements.
If possible preview it and read the description prior to buying it.
Hit Buy Now.
Choose the appropriate subscription for your requirements.
Make your account.
Pay via PayPal or by debit/credit card.
Select a needed format if several options are available (e.g., PDF or Word).
Download the file.

Once the Assignment of Assignor's Interest in A Nonproducing Lease is downloaded you are able to complete, print and sign it in any editor or by hand. Get professionally drafted state-relevant files in a matter of minutes in a preferable format with US Legal Forms!

Form Rating

4.86

Satisfied(395)

Form popularity

FAQ

Overriding Royalty Interest (ORRI) a percentage share of production, or the value derived from production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner.

Royalty Interest an ownership in production that bears no cost in production. Royalty interest owners receive their share of production revenue before the working interest owners. Working Interest an ownership in a well that bears 100% of the cost of production.

Conveyance Documents An operator may ask you to sign a Cross-Conveyance and Stipulation of Interest document to clarify ownership when there are any ambiguities with previous conveyances when concurrent ownership (multiple people) is involved. If you have this document, keep it along with any deeds.

An overriding royalty interest generally entitles the owner of the interest to a specified share of the oil and gas produced under the terms of the lease. In Texas and in many other oil-producing states, overriding royalty interests are generally treated as interests in real estate.

An overriding royalty interest is the right to receive revenue from the production of oil and gas from a well. The overriding royalty is carved out of the lessee's (operator's) working interest and entitles its owner to a fraction of production.

An assignment is when the tenant transfers their lease interest to a new tenant using a Lease Assignment. The assignee takes the assignor's place in the landlord-tenant relationship, although the assignor may remain liable for damages, missed rent payments, and other lease violations.

A stipulation of interest is a contract that consists of mutual conveyances, and therefore, it must conform to the requirements of both a contract and conveyance.This requires the affiant to state all facts necessary to establish inheritance of a decedent's real estate as well as proportional interest.

An Assignment of an Oil, Gas and Mineral Lease is a document in which the original Lessee, and or their successors, assign either all or part of their working interest and/or net revenue interest that they own in that lease. This is leasehold interest. You can also assign or reserve interest in wellbores.

The value of an overriding royalty interest is simple to calculate since it is a percent of the working interest lease. The ORRI value is based on production on the acreage leased by the working interest.

Assignment of Assignor's Interest in A Nonproducing Lease

Description

Related forms

How to fill out Assignment Of Assignor's Interest In A Nonproducing Lease?

Show more info

Form Rating

Form popularity

FAQ

What is overriding royalty interest?

What is the difference between working interest and royalty interest?

What is a stipulation of interest and cross conveyance?

Is an overriding royalty interest real property?

What is an assignment of overriding royalty interest?

What is a lease assignment agreement?

What is a stipulation of interest?

What is an assignment of oil and gas lease?

How do you value overriding royalty interest?

Trusted and secure by over 3 million people of the world’s leading companies