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.
The North Dakota Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document used in the state of North Dakota to transfer the rights to an overriding royalty interest while also reserving the right to pool the assigned interest. This type of assignment allows the assignor to maintain flexibility in deciding how the interest will be used for potential future development or extraction activities. Keywords: North Dakota, Assignment of Overriding Royalty Interest, Assignor, Reserves the Right, Pool, Assigned Interest, Short Form Different types of North Dakota Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include: 1. Individual Assignment: This type of assignment involves a single assignor transferring their overriding royalty interest to a designated assignee while reserving the right to pool the interest if necessary. 2. Corporate Assignment: In cases where the assignor is a corporation or company, this form would involve the transfer of overriding royalty interests by the corporation to another entity while maintaining the right to pool the assigned interests. 3. Partnership Assignment: When a partnership owns the overriding royalty interests, this type of assignment would involve the partnership assigning the interests to another party while reserving the right to pool the assigned interests if needed. 4. Trust Assignment: In cases where the overriding royalty interests are held by a trust, this form would involve the trustee transferring the interests to a designated party while retaining the right to pool the assigned interests. 5. Multiple Assignor Assignment: This variant involves multiple assignors, each with their respective overriding royalty interests, transferring their interests collectively to another party while reserving the right to pool the assigned interests as a group. It is important to note that the specific terms and conditions of the North Dakota Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may vary depending on the individual circumstances and agreements between the parties involved.
