Georgia 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. A Georgia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legally binding document that allows a working interest owner in a lease to assign a portion of their overriding royalty interest to another party in Georgia. This assignment is applicable when a single lease is involved, and the working interest owner specifies the percentage of overriding royalty interest they wish to assign. Keywords: Georgia Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. In Georgia, there are various types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, including: 1. Absolute Assignment: This type of assignment entails the complete transfer of the working interest owner's overriding royalty interest to the assignee. The percentage to be assigned is stated explicitly in the document, enabling a clear and unambiguous transfer of rights. 2. Partial Assignment: In this type of assignment, the working interest owner only transfers a specific portion or percentage of their overriding royalty interest to the assignee. This allows the working interest owner to maintain some ownership and control over their interests while sharing the benefits with the assignee. 3. Limited Assignment: When a working interest owner wishes to assign their overriding royalty interest for a limited period or specific purposes, they may opt for a limited assignment. The stated percentage will still be assigned, but with a predefined time frame or specific conditions associated with it. 4. Conditional Assignment: This type of assignment includes conditions that must be fulfilled by the assignee before the overriding royalty interest can be transferred. These conditions could include obtaining specific approvals, meeting certain financial obligations, or fulfilling any other criteria agreed upon by both parties. 5. Revocable Assignment: This assignment allows the working interest owner to revoke the assigned percentage of overriding royalty interest under specific circumstances. The conditions for revocation must be clearly stated in the assignment, ensuring transparency and protection for all parties involved. It is crucial for all parties to consult legal professionals and ensure that the Georgia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage accurately reflects their intentions and protects their rights.

A Georgia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legally binding document that allows a working interest owner in a lease to assign a portion of their overriding royalty interest to another party in Georgia. This assignment is applicable when a single lease is involved, and the working interest owner specifies the percentage of overriding royalty interest they wish to assign. Keywords: Georgia Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. In Georgia, there are various types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, including: 1. Absolute Assignment: This type of assignment entails the complete transfer of the working interest owner's overriding royalty interest to the assignee. The percentage to be assigned is stated explicitly in the document, enabling a clear and unambiguous transfer of rights. 2. Partial Assignment: In this type of assignment, the working interest owner only transfers a specific portion or percentage of their overriding royalty interest to the assignee. This allows the working interest owner to maintain some ownership and control over their interests while sharing the benefits with the assignee. 3. Limited Assignment: When a working interest owner wishes to assign their overriding royalty interest for a limited period or specific purposes, they may opt for a limited assignment. The stated percentage will still be assigned, but with a predefined time frame or specific conditions associated with it. 4. Conditional Assignment: This type of assignment includes conditions that must be fulfilled by the assignee before the overriding royalty interest can be transferred. These conditions could include obtaining specific approvals, meeting certain financial obligations, or fulfilling any other criteria agreed upon by both parties. 5. Revocable Assignment: This assignment allows the working interest owner to revoke the assigned percentage of overriding royalty interest under specific circumstances. The conditions for revocation must be clearly stated in the assignment, ensuring transparency and protection for all parties involved. It is crucial for all parties to consult legal professionals and ensure that the Georgia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage accurately reflects their intentions and protects their rights.