Kansas Assignment of Overriding Royalty Interest For A Term of Years

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-289
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land for a specified term. A Kansas Assignment of Overriding Royalty Interest for a Term of Years is a legal contract that involves the transfer of a portion of the royalty interest from an oil or gas lease to another party for a specified period. This document is commonly used in the energy industry in Kansas, and it outlines the terms and conditions under which the assigning party relinquishes their right to receive a portion of the royalties generated from the production of oil or gas on a particular property. Keywords: 1. Kansas: This refers to the jurisdiction where the assignment of overriding royalty interest is taking place. Different states may have specific laws and regulations governing these assignments. 2. Assignment: The assignment is the act of transferring the overriding royalty interest from one party to another. It typically involves a written agreement to effectuate the transfer. 3. Overriding Royalty Interest: This refers to the right to receive a specified percentage of the gross production or revenue from an oil or gas lease, regardless of the working interest. It is often an additional interest granted to the assignee on top of the standard royalty interest. 4. Term of Years: The term of years specifies the duration for which the overriding royalty interest is assigned. This period can vary depending on the agreement between the parties involved. Different Types: There can be various types of Kansas Assignment of Overriding Royalty Interest for a Term of Years, each with specific variations or conditions. Some of these types may include the following: 1. Fixed Term Assignment: This type of assignment involves a fixed duration for the overriding royalty interest, after which the assignor regains full control over the interest. 2. Renewal Assignment: In this type of assignment, the overriding royalty interest can be renewed or extended for additional terms upon the agreement of both parties. It offers the potential for a long-term arrangement. 3. Conditional Assignment: This assignment may come with certain conditions that must be met before the overriding royalty interest can be transferred. These conditions could be related to production levels, price thresholds, or other factors. 4. Partial Assignment: This type of assignment involves transferring only a portion of the overriding royalty interest, meaning the assignee will only receive a percentage of the royalties generated from the property. In summary, a Kansas Assignment of Overriding Royalty Interest for a Term of Years is a legal agreement used in the energy industry to transfer a portion of the royalty interest to another party for a specified duration. There can be various types of assignments with specific variations and conditions based on the agreement between the parties involved. Compliance with Kansas state laws and regulations is essential while drafting and executing these assignments.

A Kansas Assignment of Overriding Royalty Interest for a Term of Years is a legal contract that involves the transfer of a portion of the royalty interest from an oil or gas lease to another party for a specified period. This document is commonly used in the energy industry in Kansas, and it outlines the terms and conditions under which the assigning party relinquishes their right to receive a portion of the royalties generated from the production of oil or gas on a particular property. Keywords: 1. Kansas: This refers to the jurisdiction where the assignment of overriding royalty interest is taking place. Different states may have specific laws and regulations governing these assignments. 2. Assignment: The assignment is the act of transferring the overriding royalty interest from one party to another. It typically involves a written agreement to effectuate the transfer. 3. Overriding Royalty Interest: This refers to the right to receive a specified percentage of the gross production or revenue from an oil or gas lease, regardless of the working interest. It is often an additional interest granted to the assignee on top of the standard royalty interest. 4. Term of Years: The term of years specifies the duration for which the overriding royalty interest is assigned. This period can vary depending on the agreement between the parties involved. Different Types: There can be various types of Kansas Assignment of Overriding Royalty Interest for a Term of Years, each with specific variations or conditions. Some of these types may include the following: 1. Fixed Term Assignment: This type of assignment involves a fixed duration for the overriding royalty interest, after which the assignor regains full control over the interest. 2. Renewal Assignment: In this type of assignment, the overriding royalty interest can be renewed or extended for additional terms upon the agreement of both parties. It offers the potential for a long-term arrangement. 3. Conditional Assignment: This assignment may come with certain conditions that must be met before the overriding royalty interest can be transferred. These conditions could be related to production levels, price thresholds, or other factors. 4. Partial Assignment: This type of assignment involves transferring only a portion of the overriding royalty interest, meaning the assignee will only receive a percentage of the royalties generated from the property. In summary, a Kansas Assignment of Overriding Royalty Interest for a Term of Years is a legal agreement used in the energy industry to transfer a portion of the royalty interest to another party for a specified duration. There can be various types of assignments with specific variations and conditions based on the agreement between the parties involved. Compliance with Kansas state laws and regulations is essential while drafting and executing these assignments.