This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
Michigan Assignment of Overriding Royalty Interest (ORRIS) when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal agreement that outlines the transfer of royalty interests from one party to another in the state of Michigan. This assignment allows the assignee (the party receiving the ORRIS) to receive a portion of the royalties generated from the assigned interest in the oil or gas production. The "Assignor Reserving the Right to Pool the Assigned Interest" aspect of this agreement means that the original owner of the interest, known as the assignor, retains the right to combine or merge their interest with other oil or gas leases. This pooling provision enables the assignor to maximize the production potential and economic benefits of their assigned interest. The Short Form designation implies that this agreement is a simplified, condensed version of the Michigan Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest. The short form may be used when the parties involved desire a more straightforward document, without compromising the legality and enforceability of the assignment. Keywords: Michigan Assignment of Overriding Royalty Interest, Assignor Reserves the Right to Pool, Short Form, ORRIS, oil and gas production, transfer of royalty interests, pooling provision. Different types of Michigan Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include variations based on specific conditions, considerations, or parties involved. Some possible variations could be: 1. Michigan Assignment of ORRIS when Assignor Reserves the Right to Pool the Assigned Interest — Short Form for Natural Gas Leases 2. Michigan Assignment of ORRIS when Assignor Reserves the Right to Pool the Assigned Interest — Short Form for Oil Leases 3. Michigan Assignment of ORRIS when Multiple Assignors Reserve the Right to Pool the Assigned Interests — Short Form 4. Michigan AssignmenMorrisRI when Assignor Reserves the Right to Pool and Share the Assigned Interest — Short Form.Michigan Assignment of Overriding Royalty Interest (ORRIS) when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal agreement that outlines the transfer of royalty interests from one party to another in the state of Michigan. This assignment allows the assignee (the party receiving the ORRIS) to receive a portion of the royalties generated from the assigned interest in the oil or gas production. The "Assignor Reserving the Right to Pool the Assigned Interest" aspect of this agreement means that the original owner of the interest, known as the assignor, retains the right to combine or merge their interest with other oil or gas leases. This pooling provision enables the assignor to maximize the production potential and economic benefits of their assigned interest. The Short Form designation implies that this agreement is a simplified, condensed version of the Michigan Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest. The short form may be used when the parties involved desire a more straightforward document, without compromising the legality and enforceability of the assignment. Keywords: Michigan Assignment of Overriding Royalty Interest, Assignor Reserves the Right to Pool, Short Form, ORRIS, oil and gas production, transfer of royalty interests, pooling provision. Different types of Michigan Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include variations based on specific conditions, considerations, or parties involved. Some possible variations could be: 1. Michigan Assignment of ORRIS when Assignor Reserves the Right to Pool the Assigned Interest — Short Form for Natural Gas Leases 2. Michigan Assignment of ORRIS when Assignor Reserves the Right to Pool the Assigned Interest — Short Form for Oil Leases 3. Michigan Assignment of ORRIS when Multiple Assignors Reserve the Right to Pool the Assigned Interests — Short Form 4. Michigan AssignmenMorrisRI when Assignor Reserves the Right to Pool and Share the Assigned Interest — Short Form.
