District of Columbia 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. The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that outlines the transfer of a portion of the working interest owner's royalty interest to another party. This type of assignment is commonly utilized in the energy industry, particularly in oil and gas leases. The document specifies the percentage of the overriding royalty interest that is being assigned and includes relevant details about the lease and parties involved. In the District of Columbia, there are various types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, including: 1. Voluntary Assignment: This type of assignment occurs when the working interest owner willingly transfers a portion of their overriding royalty interest to another party. The assignment is typically carried out in exchange for compensation or other considerations agreed upon by both parties. 2. Involuntary Assignment: In some cases, the assignment of overriding royalty interest may occur without the consent of the working interest owner. This type of assignment can happen in situations where the original lease agreement allows for such transfers or under certain legal circumstances. 3. Partial Assignment: A partial assignment involves the transfer of only a portion or percentage of the working interest owner's overriding royalty interest. This type of assignment allows the working interest owner to maintain a share of the royalty interest while benefiting from any potential income generated from the assigned percentage. 4. Complete Assignment: A complete assignment involves the transfer of the entire overriding royalty interest held by the working interest owner. In this case, the working interest owner relinquishes all rights and interests associated with the royalty interest to the assignee. The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a comprehensive framework for ensuring the legal transfer of royalty interests between parties involved in an oil and gas lease. The document must adhere to the specific requirements outlined by the District of Columbia laws and regulations governing such assignments. It is essential for all parties involved to carefully review and understand the terms and conditions of the assignment before executing the document to ensure proper compliance and protection of their respective interests.

The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that outlines the transfer of a portion of the working interest owner's royalty interest to another party. This type of assignment is commonly utilized in the energy industry, particularly in oil and gas leases. The document specifies the percentage of the overriding royalty interest that is being assigned and includes relevant details about the lease and parties involved. In the District of Columbia, there are various types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, including: 1. Voluntary Assignment: This type of assignment occurs when the working interest owner willingly transfers a portion of their overriding royalty interest to another party. The assignment is typically carried out in exchange for compensation or other considerations agreed upon by both parties. 2. Involuntary Assignment: In some cases, the assignment of overriding royalty interest may occur without the consent of the working interest owner. This type of assignment can happen in situations where the original lease agreement allows for such transfers or under certain legal circumstances. 3. Partial Assignment: A partial assignment involves the transfer of only a portion or percentage of the working interest owner's overriding royalty interest. This type of assignment allows the working interest owner to maintain a share of the royalty interest while benefiting from any potential income generated from the assigned percentage. 4. Complete Assignment: A complete assignment involves the transfer of the entire overriding royalty interest held by the working interest owner. In this case, the working interest owner relinquishes all rights and interests associated with the royalty interest to the assignee. The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a comprehensive framework for ensuring the legal transfer of royalty interests between parties involved in an oil and gas lease. The document must adhere to the specific requirements outlined by the District of Columbia laws and regulations governing such assignments. It is essential for all parties involved to carefully review and understand the terms and conditions of the assignment before executing the document to ensure proper compliance and protection of their respective interests.