The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
New Hampshire Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction An Assignment of Overriding Royalty Interest in the Overriding Royalty Interest (ORRIS) owner in New Hampshire is a legal document used to transfer ownership of the ORRIS from the current owner to another party. This assignment does not result in a proportionate reduction of the ORRIS. The ORRIS is a type of royalty interest that allows the owner to receive a percentage of the gross revenue from the production of minerals or oil and gas on a specific piece of land. It is an attractive investment for individuals or entities looking to earn passive income without assuming the responsibilities and risks associated with exploration and extraction operations. This type of assignment in New Hampshire provides a mechanism for the current ORRIS owner to sell, gift, or transfer their interest to another party. The transaction must comply with the state's regulations and the terms of the original agreement that granted the ORRIS. When completing the assignment, it is crucial to provide accurate details about the parties involved, the specific land or area covered by the ORRIS, and any existing agreements or encumbrances related to the interest. This ensures a smooth transfer of ownership and protects the rights of both the assignor and the assignee. It is essential to note that this particular type of assignment does not result in a proportionate reduction of the ORRIS. It means that the assignee will receive the same royalty interest percentage as the assignor had before the assignment. This often makes the assignment more attractive, as the assignee can acquire the full benefits of the ORRIS without any reduction in their potential earnings. The New Hampshire Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, can vary depending on the specific provisions outlined in the original agreement. Some important terms that may differ include assignment fees, assignment restrictions, and the assignee's rights and obligations. In summary, a New Hampshire Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document used to transfer ownership of an ORRIS without reducing the assignee's royalty interest percentage. This type of assignment allows for the seamless transfer of ownership and ensures that the assignee receives the full benefits of the ORRIS.
