This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
The Louisiana Assignment of Overriding Royalty Interest — Short Form is a legal document used in Louisiana to transfer the rights to receive overriding royalty interest (ORRIS) from one party to another. ORRIS is a percentage share of the oil and gas production revenues that is separate from the working or leasehold interest in the petroleum property. This assignment document is crucial for both the assignor, the party transferring the ORRIS, and the assignee, the party receiving the ORRIS. It details the terms and conditions of the transfer, ensuring the transaction is legally binding and protecting the rights of both parties involved. Keywords: Louisiana, Assignment of Overriding Royalty Interest, Short Form, transfer, rights, receiving, overriding royalty interest, ORRIS, oil and gas production, revenue, working interest, leasehold interest, petroleum property, terms and conditions, legally binding, parties, document. Different types of the Louisiana Assignment of Overriding Royalty Interest — Short Form may include variations based on specific circumstances or additional clauses. These adaptations could serve different purposes, such as adding specific conditions, addressing tax implications, or accommodating multiple assignors or assignees. Keywords: adaptations, specific circumstances, additional clauses, variations, specific conditions, tax implications, multiple assignors, multiple assignees. It is important to consult legal professionals to ensure the specific requirements and provisions of the Louisiana Assignment of Overriding Royalty Interest — Short Form are met according to state laws.
The Louisiana Assignment of Overriding Royalty Interest — Short Form is a legal document used in Louisiana to transfer the rights to receive overriding royalty interest (ORRIS) from one party to another. ORRIS is a percentage share of the oil and gas production revenues that is separate from the working or leasehold interest in the petroleum property. This assignment document is crucial for both the assignor, the party transferring the ORRIS, and the assignee, the party receiving the ORRIS. It details the terms and conditions of the transfer, ensuring the transaction is legally binding and protecting the rights of both parties involved. Keywords: Louisiana, Assignment of Overriding Royalty Interest, Short Form, transfer, rights, receiving, overriding royalty interest, ORRIS, oil and gas production, revenue, working interest, leasehold interest, petroleum property, terms and conditions, legally binding, parties, document. Different types of the Louisiana Assignment of Overriding Royalty Interest — Short Form may include variations based on specific circumstances or additional clauses. These adaptations could serve different purposes, such as adding specific conditions, addressing tax implications, or accommodating multiple assignors or assignees. Keywords: adaptations, specific circumstances, additional clauses, variations, specific conditions, tax implications, multiple assignors, multiple assignees. It is important to consult legal professionals to ensure the specific requirements and provisions of the Louisiana Assignment of Overriding Royalty Interest — Short Form are met according to state laws.