The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner without Proportionate Reduction is a legal instrument that allows an overriding royalty interest owner in Indiana to assign their interest to another party without reducing the proportionate share of the interest. An overriding royalty interest is a non-operating interest in minerals or oil and gas produced from a specific property. It grants the interest owner the right to a portion of the revenue generated from the sale of these resources, typically expressed as a percentage. In Indiana, the Assignment of Overriding Royalty Interest is a commonly used document in the oil and gas industry. It allows overriding royalty interest owners to transfer, sell, or assign their interest to other parties, including individuals, companies, or trusts. In certain cases, an overriding royalty interest owner may want to assign their interest without reducing the proportionate share. This means that the assignee will receive the exact percentage of the revenue that the assignor was entitled to, without any dilution. This type of assignment is particularly attractive when the assignee believes that the production from the property will increase significantly, resulting in higher revenue generation. The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a formal document that outlines the terms and conditions of the assignment. It typically includes details such as: 1. Identification of the assignor and assignee: The document will clearly state the names and addresses of both parties involved in the assignment. 2. Description of the overriding royalty interest: The assignment will describe the specific property or properties from which the overriding royalty interest is derived. It will also mention the exact percentage of the interest being assigned. 3. Consideration: The assignment will mention whether there is any monetary consideration involved in the transfer of the overriding royalty interest or if it is being assigned without any financial compensation. 4. No Proportionate Reduction clause: This clause explicitly states that the assignment is being made without any reduction in the proportionate share of the interest. It ensures that the assignee will receive the same percentage of revenue as the assignor. 5. Governing law: The assignment will specify that it is governed by the laws of the state of Indiana, ensuring its validity and enforceability. 6. Signatures and notarization: To make the assignment legally enforceable, both the assignor and assignee must sign the document in the presence of a notary public. The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a critical legal document that protects the interests of both the assignor and assignee. It provides a clear record of the transfer and ensures that the assignee receives the rightful portion of the revenue from the property's production.The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner without Proportionate Reduction is a legal instrument that allows an overriding royalty interest owner in Indiana to assign their interest to another party without reducing the proportionate share of the interest. An overriding royalty interest is a non-operating interest in minerals or oil and gas produced from a specific property. It grants the interest owner the right to a portion of the revenue generated from the sale of these resources, typically expressed as a percentage. In Indiana, the Assignment of Overriding Royalty Interest is a commonly used document in the oil and gas industry. It allows overriding royalty interest owners to transfer, sell, or assign their interest to other parties, including individuals, companies, or trusts. In certain cases, an overriding royalty interest owner may want to assign their interest without reducing the proportionate share. This means that the assignee will receive the exact percentage of the revenue that the assignor was entitled to, without any dilution. This type of assignment is particularly attractive when the assignee believes that the production from the property will increase significantly, resulting in higher revenue generation. The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a formal document that outlines the terms and conditions of the assignment. It typically includes details such as: 1. Identification of the assignor and assignee: The document will clearly state the names and addresses of both parties involved in the assignment. 2. Description of the overriding royalty interest: The assignment will describe the specific property or properties from which the overriding royalty interest is derived. It will also mention the exact percentage of the interest being assigned. 3. Consideration: The assignment will mention whether there is any monetary consideration involved in the transfer of the overriding royalty interest or if it is being assigned without any financial compensation. 4. No Proportionate Reduction clause: This clause explicitly states that the assignment is being made without any reduction in the proportionate share of the interest. It ensures that the assignee will receive the same percentage of revenue as the assignor. 5. Governing law: The assignment will specify that it is governed by the laws of the state of Indiana, ensuring its validity and enforceability. 6. Signatures and notarization: To make the assignment legally enforceable, both the assignor and assignee must sign the document in the presence of a notary public. The Indiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a critical legal document that protects the interests of both the assignor and assignee. It provides a clear record of the transfer and ensures that the assignee receives the rightful portion of the revenue from the property's production.
