Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. The Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that allows individuals or entities to transfer their rights to receive royalty payments from an oil or gas lease. This assignment applies specifically to non-producing leases in Massachusetts and includes a provision that reserves the right to pool the leased premises. In this type of assignment, the assignor, who is the current owner of the overriding royalty interest, transfers all their rights, title, and interest in the royalty payments to the assignee. The assignee becomes the new rightful recipient of the royalty payments, assuming all obligations and responsibilities associated with the interest. The assignment typically includes a detailed description of the specific lease involved, including its location, dimensions, and any relevant identifying information. It also outlines the terms and conditions of the assignment, including any restrictions or limitations. The provision reserving the right to pool the leased premises means that the assignor still retains the right to combine the leased premises with other adjacent or nearby leases for the purpose of efficient and economic development of oil or gas resources. By reserving this right, the assignor ensures that they can participate in potential pooling arrangements in the future. It is important to note that there may be variations or additional types of Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), depending on specific circumstances or agreements between parties involved. These variations could include different conditions, limitations, or provisions tailored to meet the needs or preferences of the parties involved. In conclusion, the Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that allows the transfer of royalty rights from a non-producing oil or gas lease in Massachusetts to another party. By reserving the right to pool, the assignor ensures their ability to participate in future pooling arrangements.

The Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that allows individuals or entities to transfer their rights to receive royalty payments from an oil or gas lease. This assignment applies specifically to non-producing leases in Massachusetts and includes a provision that reserves the right to pool the leased premises. In this type of assignment, the assignor, who is the current owner of the overriding royalty interest, transfers all their rights, title, and interest in the royalty payments to the assignee. The assignee becomes the new rightful recipient of the royalty payments, assuming all obligations and responsibilities associated with the interest. The assignment typically includes a detailed description of the specific lease involved, including its location, dimensions, and any relevant identifying information. It also outlines the terms and conditions of the assignment, including any restrictions or limitations. The provision reserving the right to pool the leased premises means that the assignor still retains the right to combine the leased premises with other adjacent or nearby leases for the purpose of efficient and economic development of oil or gas resources. By reserving this right, the assignor ensures that they can participate in potential pooling arrangements in the future. It is important to note that there may be variations or additional types of Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), depending on specific circumstances or agreements between parties involved. These variations could include different conditions, limitations, or provisions tailored to meet the needs or preferences of the parties involved. In conclusion, the Massachusetts Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that allows the transfer of royalty rights from a non-producing oil or gas lease in Massachusetts to another party. By reserving the right to pool, the assignor ensures their ability to participate in future pooling arrangements.