This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
The Florida Assignment of Overriding Royalty Interest (ORRIS) when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the transfer of a portion of the royalty interest in oil, gas, and mineral leases in Florida from the assignor to the assignee. This assignment allows the assignor to retain the right to pool or combine the assigned interest with other interests in drilling and extraction purposes. By using this short form, the process becomes more streamlined and efficient. There are different types of Florida Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, including: 1. Basic Assignment: This is the standard form used to transfer the overriding royalty interest from the assignor to the assignee in Florida. It highlights the assignor's reservation of the right to pool the assigned interest with other interests, ensuring flexibility in drilling and extraction operations. 2. Limited Assignment: In certain cases, the assignor may choose to transfer only a limited portion of the overriding royalty interest. This option grants the assignee a specific fraction or percentage of the assigned interest while the assignor reserves the remaining share, providing greater control over future pooling decisions. 3. Multiple Assignor Assignment: When there are multiple assignors involved, this type of assignment allows for the transfer of overriding royalty interest from multiple parties to the assignee while reserving the right of the individual assignors to pool their respective assigned interests. This form ensures clarity and transparency among multiple assignors and helps streamline the pooling process. 4. Time-Limited Assignment: In certain circumstances, the assignor may wish to assign the overriding royalty interest for a specific period or until a particular milestone is reached, such as the completion of drilling operations or the expiration of a lease. This time-limited assignment allows for the assignor to reserve the right to pool the assigned interest until the designated timeframe or event occurs. In summary, the Florida Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that facilitates the transfer of royalty interest while allowing the assignor to retain the right to pool the assigned interest with other interests. With various types of assignments available, parties can customize the agreement based on their specific needs and circumstances.The Florida Assignment of Overriding Royalty Interest (ORRIS) when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the transfer of a portion of the royalty interest in oil, gas, and mineral leases in Florida from the assignor to the assignee. This assignment allows the assignor to retain the right to pool or combine the assigned interest with other interests in drilling and extraction purposes. By using this short form, the process becomes more streamlined and efficient. There are different types of Florida Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, including: 1. Basic Assignment: This is the standard form used to transfer the overriding royalty interest from the assignor to the assignee in Florida. It highlights the assignor's reservation of the right to pool the assigned interest with other interests, ensuring flexibility in drilling and extraction operations. 2. Limited Assignment: In certain cases, the assignor may choose to transfer only a limited portion of the overriding royalty interest. This option grants the assignee a specific fraction or percentage of the assigned interest while the assignor reserves the remaining share, providing greater control over future pooling decisions. 3. Multiple Assignor Assignment: When there are multiple assignors involved, this type of assignment allows for the transfer of overriding royalty interest from multiple parties to the assignee while reserving the right of the individual assignors to pool their respective assigned interests. This form ensures clarity and transparency among multiple assignors and helps streamline the pooling process. 4. Time-Limited Assignment: In certain circumstances, the assignor may wish to assign the overriding royalty interest for a specific period or until a particular milestone is reached, such as the completion of drilling operations or the expiration of a lease. This time-limited assignment allows for the assignor to reserve the right to pool the assigned interest until the designated timeframe or event occurs. In summary, the Florida Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that facilitates the transfer of royalty interest while allowing the assignor to retain the right to pool the assigned interest with other interests. With various types of assignments available, parties can customize the agreement based on their specific needs and circumstances.
