A Kentucky Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the rights to receive royalty payments from an oil or gas lease to another party. This agreement is specifically designed for non-producing leases in the state of Kentucky, allowing the assignor to retain the right to pool their royalties with other adjacent leases. Keywords: Kentucky, Assignment of Overriding Royalty Interest, non-producing lease, single lease, reserves right to pool, royalty payments, oil lease, gas lease. In Kentucky, there are various types of Assignment of Overriding Royalty Interest agreements depending on specific circumstances: 1. Kentucky Assignment of Non-Producing Overriding Royalty Interest: This type of agreement is designed for leases that are not currently producing any oil or gas. It allows the assignee to step in and take over the royalty payments while the lease remains non-producing. 2. Kentucky Assignment of Single Lease Overriding Royalty Interest: This agreement is specific to a single lease and assigns the overriding royalty interest to the assignee. It may be used for both producing and non-producing leases, ensuring that the assignee receives the allotted royalty payments. 3. Kentucky Assignment of Overriding Royalty Interest with Reservation to Pool: This type of assignment allows the assignor to retain the right to pool the royalty interest with other leases. Pooling refers to the combining of neighboring leases to optimize production and enhance overall efficiency. The assignor reserves the right to participate in such pooling arrangements while assigning the overriding royalty interest to the assignee. By utilizing a Kentucky Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), parties involved in oil or gas leasing can efficiently transfer royalty rights while considering their specific circumstances and potential pooling opportunities. This document ensures that all parties are clear on their respective rights and responsibilities, allowing for a smooth transfer of royalty payments.
Kentucky Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)
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