Idaho 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. Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that transfers the rights to a portion of the royalty interest that a working interest owner holds in a single lease in Idaho to another party. This assignment allows the transferee to collect a specified percentage of the royalties derived from the production of minerals or oil and gas on the leased property. Keywords: Idaho, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can be classified into different types based on the terms and conditions mentioned in the agreement: 1. Fixed Percentage Assignment: This type of assignment clearly states a fixed percentage of the overriding royalty interest that the working interest owner is assigning to the transferee. For example, the working interest owner may assign 20% of their interest in the lease's overriding royalty. 2. Proportional Assignment: This type of assignment allows the working interest owner to assign a percentage of their overriding royalty interest that corresponds to their ownership percentage in the lease. For instance, if the working interest owner owns 50% of the lease, they may assign 50% of their overriding royalty interest. 3. Time-Limited Assignment: In some cases, the assignment may specify a time limit during which the transferee will receive the assigned royalty interest. This could be for a specific number of years or until a specified event occurs. 4. Conditional Assignment: This type of assignment may impose certain conditions that need to be met for the transferee to be eligible for the assigned overriding royalty interest. For example, the assignment may be conditional on the successful completion of a specific drilling project. 5. Inherited Assignment: This type of assignment refers to the transfer of overriding royalty interest in a working interest owner to their heirs or beneficiaries upon their demise. It's important to note that the specific terms and conditions of an Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can vary depending on the parties involved and the specific circumstances of the agreement. Consulting with a qualified legal professional is advisable to ensure compliance with Idaho state laws and to draft a comprehensive and enforceable document.

Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that transfers the rights to a portion of the royalty interest that a working interest owner holds in a single lease in Idaho to another party. This assignment allows the transferee to collect a specified percentage of the royalties derived from the production of minerals or oil and gas on the leased property. Keywords: Idaho, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can be classified into different types based on the terms and conditions mentioned in the agreement: 1. Fixed Percentage Assignment: This type of assignment clearly states a fixed percentage of the overriding royalty interest that the working interest owner is assigning to the transferee. For example, the working interest owner may assign 20% of their interest in the lease's overriding royalty. 2. Proportional Assignment: This type of assignment allows the working interest owner to assign a percentage of their overriding royalty interest that corresponds to their ownership percentage in the lease. For instance, if the working interest owner owns 50% of the lease, they may assign 50% of their overriding royalty interest. 3. Time-Limited Assignment: In some cases, the assignment may specify a time limit during which the transferee will receive the assigned royalty interest. This could be for a specific number of years or until a specified event occurs. 4. Conditional Assignment: This type of assignment may impose certain conditions that need to be met for the transferee to be eligible for the assigned overriding royalty interest. For example, the assignment may be conditional on the successful completion of a specific drilling project. 5. Inherited Assignment: This type of assignment refers to the transfer of overriding royalty interest in a working interest owner to their heirs or beneficiaries upon their demise. It's important to note that the specific terms and conditions of an Idaho Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can vary depending on the parties involved and the specific circumstances of the agreement. Consulting with a qualified legal professional is advisable to ensure compliance with Idaho state laws and to draft a comprehensive and enforceable document.