Nebraska Assignment of Overriding Royalty Interests for Multiple Leases

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-036
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in multiple leases. Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is a legal document that transfers the rights to a portion of the royalties from multiple leases in Nebraska to another party. This document is commonly used in the oil and gas industry when an owner or operator wants to assign a percentage of their overriding royalty interests to another individual or entity. The Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is typically utilized when there are multiple leases involved, each with its own specific terms and conditions. These leases may pertain to different oil or gas wells located within the state of Nebraska. With this assignment, the assignor — the current owner of the overriding royalty interests — agrees to transfer a specific percentage or portion of their royalty interests to the assignee. The assignee becomes the new recipient of these overriding royalty interests and is entitled to receive a corresponding percentage of the royalties generated from these leases. It's important to note that there can be different types of Nebraska Assignment of Overriding Royalty Interests in Multiple Leases, depending on the specific terms negotiated between the assignor and assignee: 1. Fixed Percentage Assignment: This type involves the assignor transferring a fixed percentage of their overriding royalty interests to the assignee. For example, if the assignor owns a 10% overriding royalty interest in multiple leases, they may choose to assign 5% to the assignee. 2. Proportional Assignment: In this scenario, the assignor and assignee agree on assigning a proportional share of the overriding royalty interests based on the total amount of royalty interests owned by the assignor across all leases. For instance, if the assignor owns a total of 50% overriding royalty interests across multiple leases, and they wish to assign 25% to the assignee, both parties would agree that the assignee receives half of the assignor's total overriding royalty interests. 3. Time-limited Assignment: This type of assignment limits the duration of the overriding royalty interests transferred to the assignee. The assignor may choose to assign their royalty interests in a specific period, after which they will revert to the assignor automatically. 4. Specific Lease Assignment: Instead of assigning overriding royalty interests from multiple leases, this type focuses on transferring those interests from a single lease. The assignor may single out a specific lease and assign a portion of their royalty interests to the assignee. In conclusion, the Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is a legal document used to transfer a portion of royalty interests from multiple leases to another party. The specific terms and conditions of the assignment can vary, including fixed percentage, proportional, time-limited, or specific lease assignments.

Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is a legal document that transfers the rights to a portion of the royalties from multiple leases in Nebraska to another party. This document is commonly used in the oil and gas industry when an owner or operator wants to assign a percentage of their overriding royalty interests to another individual or entity. The Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is typically utilized when there are multiple leases involved, each with its own specific terms and conditions. These leases may pertain to different oil or gas wells located within the state of Nebraska. With this assignment, the assignor — the current owner of the overriding royalty interests — agrees to transfer a specific percentage or portion of their royalty interests to the assignee. The assignee becomes the new recipient of these overriding royalty interests and is entitled to receive a corresponding percentage of the royalties generated from these leases. It's important to note that there can be different types of Nebraska Assignment of Overriding Royalty Interests in Multiple Leases, depending on the specific terms negotiated between the assignor and assignee: 1. Fixed Percentage Assignment: This type involves the assignor transferring a fixed percentage of their overriding royalty interests to the assignee. For example, if the assignor owns a 10% overriding royalty interest in multiple leases, they may choose to assign 5% to the assignee. 2. Proportional Assignment: In this scenario, the assignor and assignee agree on assigning a proportional share of the overriding royalty interests based on the total amount of royalty interests owned by the assignor across all leases. For instance, if the assignor owns a total of 50% overriding royalty interests across multiple leases, and they wish to assign 25% to the assignee, both parties would agree that the assignee receives half of the assignor's total overriding royalty interests. 3. Time-limited Assignment: This type of assignment limits the duration of the overriding royalty interests transferred to the assignee. The assignor may choose to assign their royalty interests in a specific period, after which they will revert to the assignor automatically. 4. Specific Lease Assignment: Instead of assigning overriding royalty interests from multiple leases, this type focuses on transferring those interests from a single lease. The assignor may single out a specific lease and assign a portion of their royalty interests to the assignee. In conclusion, the Nebraska Assignment of Overriding Royalty Interests in Multiple Leases is a legal document used to transfer a portion of royalty interests from multiple leases to another party. The specific terms and conditions of the assignment can vary, including fixed percentage, proportional, time-limited, or specific lease assignments.