Allegheny Pennsylvania Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty - Long Form

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Allegheny
• Control #: US-OG-518
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease, convertible to a working interest. Allegheny Pennsylvania, known as Allegheny County, is a vibrant region located in the western part of Pennsylvania, United States. This area is rich in natural resources, including oil and natural gas deposits, making it an attractive destination for energy companies. An Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that transfers the ownership of a portion of the royalty interest in an oil or gas well from the working interest owner to another party. This transfer allows the new owner to receive a percentage of the revenues generated by the oil or gas production on the property. There are different types of Allegheny Pennsylvania Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form, including: 1. Traditional Assignment: This type of assignment involves the transfer of a percentage of the overriding royalty interest to a new party. The new owner will receive a proportionate share of the revenue generated from the production of oil or gas on the property, but they do not have any operational responsibilities. 2. Multiple Leases: In some cases, there may be multiple leases associated with a particular oil or gas well in Allegheny County. These leases may have different terms and conditions, such as royalty rates or expiration dates. An Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases ensures that the new owner's interest is properly assigned from all relevant leases. 3. Limited Warranty: A Limited Warranty is a type of guarantee provided by the current owner of the overriding royalty interest. It assures the new owner that the interest being transferred is free from any defects or encumbrances, except those explicitly mentioned in the agreement. This protects the new owner from any undisclosed claims or disputes. In conclusion, an Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document used in Allegheny Pennsylvania to transfer the ownership of a portion of the royalty interest from the working interest owner to another party. This document ensures a smooth and legally binding transfer of the ownership rights, allowing the new owner to participate in the revenue generated from oil or gas production on the property.

Allegheny Pennsylvania, known as Allegheny County, is a vibrant region located in the western part of Pennsylvania, United States. This area is rich in natural resources, including oil and natural gas deposits, making it an attractive destination for energy companies. An Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that transfers the ownership of a portion of the royalty interest in an oil or gas well from the working interest owner to another party. This transfer allows the new owner to receive a percentage of the revenues generated by the oil or gas production on the property. There are different types of Allegheny Pennsylvania Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form, including: 1. Traditional Assignment: This type of assignment involves the transfer of a percentage of the overriding royalty interest to a new party. The new owner will receive a proportionate share of the revenue generated from the production of oil or gas on the property, but they do not have any operational responsibilities. 2. Multiple Leases: In some cases, there may be multiple leases associated with a particular oil or gas well in Allegheny County. These leases may have different terms and conditions, such as royalty rates or expiration dates. An Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases ensures that the new owner's interest is properly assigned from all relevant leases. 3. Limited Warranty: A Limited Warranty is a type of guarantee provided by the current owner of the overriding royalty interest. It assures the new owner that the interest being transferred is free from any defects or encumbrances, except those explicitly mentioned in the agreement. This protects the new owner from any undisclosed claims or disputes. In conclusion, an Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document used in Allegheny Pennsylvania to transfer the ownership of a portion of the royalty interest from the working interest owner to another party. This document ensures a smooth and legally binding transfer of the ownership rights, allowing the new owner to participate in the revenue generated from oil or gas production on the property.