Connecticut Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-287
• 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 and all oil, gas and other minerals produced, saved and sold from the Lease and Land. Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that outlines the transfer of the overriding royalty interest rights from the working interest owner to another party. In Connecticut, there are different types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage. These include: 1. Absolute Assignment: This type of assignment involves the complete transfer of the overriding royalty interest rights without any conditions or restrictions. 2. Partial Assignment: Here, the working interest owner transfers a portion of their overriding royalty interest, maintaining ownership of the remaining percentage. 3. Conditional Assignment: This assignment is subject to certain conditions or requirements set by the parties involved. The transfer of the overriding royalty interest only takes effect upon fulfillment of these conditions. The Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage document typically includes the following key details: 1. Parties: It identifies the parties involved in the transaction, including the working interest owner (assignor) and the recipient of the overriding royalty interest (assignee). 2. Lease Details: The document specifies the lease agreement under which the overriding royalty interest is being assigned. It includes information such as the lease's effective date, duration, and any specific terms or provisions relevant to the assignment. 3. Stated Percentage: The stated percentage refers to the specific portion of the overriding royalty interest being assigned. It is expressed as a numerical value or a fraction. 4. Consideration: This section outlines the compensation, if any, that the assignee is required to provide to the assignor in exchange for the overriding royalty interest assignment. It may include cash, other property, or agreed-upon services. 5. Representations and Warranties: The document includes statements made by the assignor, ensuring that they have the legal authority to make the assignment and that there are no conflicting agreements or encumbrances on the overriding royalty interest. 6. Governing Law and Jurisdiction: It specifies that the agreement is governed by the laws of Connecticut, and any disputes or legal proceedings arising from the assignment will be handled within the state's courts. The Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a legally binding framework for the transfer of the overriding royalty interest rights. It helps protect the interests of both the assignor and the assignee, ensuring a transparent and enforceable agreement.

Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that outlines the transfer of the overriding royalty interest rights from the working interest owner to another party. In Connecticut, there are different types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage. These include: 1. Absolute Assignment: This type of assignment involves the complete transfer of the overriding royalty interest rights without any conditions or restrictions. 2. Partial Assignment: Here, the working interest owner transfers a portion of their overriding royalty interest, maintaining ownership of the remaining percentage. 3. Conditional Assignment: This assignment is subject to certain conditions or requirements set by the parties involved. The transfer of the overriding royalty interest only takes effect upon fulfillment of these conditions. The Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage document typically includes the following key details: 1. Parties: It identifies the parties involved in the transaction, including the working interest owner (assignor) and the recipient of the overriding royalty interest (assignee). 2. Lease Details: The document specifies the lease agreement under which the overriding royalty interest is being assigned. It includes information such as the lease's effective date, duration, and any specific terms or provisions relevant to the assignment. 3. Stated Percentage: The stated percentage refers to the specific portion of the overriding royalty interest being assigned. It is expressed as a numerical value or a fraction. 4. Consideration: This section outlines the compensation, if any, that the assignee is required to provide to the assignor in exchange for the overriding royalty interest assignment. It may include cash, other property, or agreed-upon services. 5. Representations and Warranties: The document includes statements made by the assignor, ensuring that they have the legal authority to make the assignment and that there are no conflicting agreements or encumbrances on the overriding royalty interest. 6. Governing Law and Jurisdiction: It specifies that the agreement is governed by the laws of Connecticut, and any disputes or legal proceedings arising from the assignment will be handled within the state's courts. The Connecticut Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a legally binding framework for the transfer of the overriding royalty interest rights. It helps protect the interests of both the assignor and the assignee, ensuring a transparent and enforceable agreement.