North Carolina Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-287
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land. A North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that transfers the ownership of a specified percentage of overriding royalty interest from the working interest owner to another party in relation to a single lease in North Carolina. This document is commonly used in the oil and gas industry and helps parties establish their rights, ownership, and responsibilities regarding royalty interests. Keywords: North Carolina, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage Types of North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage: 1. General Assignment: This type of assignment involves the transfer of a specified percentage of overriding royalty interest from a working interest owner to another party. It is a broad assignment that applies to all aspects of the single lease. 2. Partial Assignment: A partial assignment of overriding royalty interest in a working interest owner involves the transfer of a specified percentage of overriding royalty interest for a specific portion or section of the single lease. This type of assignment can be made when there are multiple sections within a lease, and the working interest owner wishes to retain ownership of some sections while transferring ownership of others. 3. Time-Limited Assignment: In a time-limited assignment, the transfer of overriding royalty interest is valid only for a specified period or until certain conditions are met. This type of assignment provides flexibility to the parties involved and allows for the potential reversion of ownership after the specified time or conditions have lapsed. 4. Multi-Party Assignment: A multi-party assignment involves the transfer of overriding royalty interest in multiple working interest owners to one or more parties. This type of assignment can occur when there are multiple individuals or entities who collectively own the working interest and wish to assign their respective overriding royalty interest to a single recipient. 5. Renewal Assignment: A renewal assignment is executed when the initial assignment of overriding royalty interest has expired or is approaching expiration. This allows the working interest owner to extend the ownership transfer for a specified period or under revised terms and conditions. Overall, a North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a legal framework for the transfer of overriding royalty interest in North Carolina. It helps establish ownership rights, percentages, and other relevant terms that govern the relationship between the working interest owner and the recipient of the royalty interest.

A North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that transfers the ownership of a specified percentage of overriding royalty interest from the working interest owner to another party in relation to a single lease in North Carolina. This document is commonly used in the oil and gas industry and helps parties establish their rights, ownership, and responsibilities regarding royalty interests. Keywords: North Carolina, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage Types of North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage: 1. General Assignment: This type of assignment involves the transfer of a specified percentage of overriding royalty interest from a working interest owner to another party. It is a broad assignment that applies to all aspects of the single lease. 2. Partial Assignment: A partial assignment of overriding royalty interest in a working interest owner involves the transfer of a specified percentage of overriding royalty interest for a specific portion or section of the single lease. This type of assignment can be made when there are multiple sections within a lease, and the working interest owner wishes to retain ownership of some sections while transferring ownership of others. 3. Time-Limited Assignment: In a time-limited assignment, the transfer of overriding royalty interest is valid only for a specified period or until certain conditions are met. This type of assignment provides flexibility to the parties involved and allows for the potential reversion of ownership after the specified time or conditions have lapsed. 4. Multi-Party Assignment: A multi-party assignment involves the transfer of overriding royalty interest in multiple working interest owners to one or more parties. This type of assignment can occur when there are multiple individuals or entities who collectively own the working interest and wish to assign their respective overriding royalty interest to a single recipient. 5. Renewal Assignment: A renewal assignment is executed when the initial assignment of overriding royalty interest has expired or is approaching expiration. This allows the working interest owner to extend the ownership transfer for a specified period or under revised terms and conditions. Overall, a North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a legal framework for the transfer of overriding royalty interest in North Carolina. It helps establish ownership rights, percentages, and other relevant terms that govern the relationship between the working interest owner and the recipient of the royalty interest.