This form is used when the Assignor wishes to convey, assign and sell to the Assignee an undivided working interest in an oil and gas lease but reserves an overriding royalty interest payable on all oil, gas, and associated hydrocarbons produced, saved and sold from the Lands.
The Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease is a legal document that allows for the transfer of rights and interests in a nonproducing oil and gas lease in Ohio. This type of assignment is typically used when the original lessee wants to transfer ownership of a portion of the leased lands to another party. In this assignment, the assignor (original lessee) relinquishes a part of the leased lands to the assignee (new lessee), effectively granting them certain rights and privileges associated with the nonproducing lease. The assignment may specify the exact portion of land being transferred, along with any terms and conditions agreed upon by both parties. Keywords: Ohio, partial assignment, oil and gas lease, nonproducing lease, transfer of rights, interests, leased lands, assignor, assignee, ownership, rights and privileges, terms and conditions. Alternative types or variations of the Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may include: 1. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Working Interest: This type of assignment involves the transfer of ownership and working interest in a portion of the nonproducing lease. The assignee not only gains rights to the leased land but also assumes the responsibilities and costs associated with exploration, development, and production. 2. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Royalty Interest: Here, the assignment grants only the right to receive a percentage of the proceeds from production on the assigned lands. The assignee does not actively participate in the exploration or operation of the lease but enjoys a share of the revenue generated. 3. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Override Interest: This type of assignment involves the transfer of a specific percentage of the royalties received by the assignor from the assigned lands. The assignee benefits from a predetermined portion of the royalties without actually owning any interest in the lease. These alternative types provide options for different arrangements and interests that can be negotiated between the assignor and assignee in a partial assignment of an oil and gas lease in Ohio.
The Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease is a legal document that allows for the transfer of rights and interests in a nonproducing oil and gas lease in Ohio. This type of assignment is typically used when the original lessee wants to transfer ownership of a portion of the leased lands to another party. In this assignment, the assignor (original lessee) relinquishes a part of the leased lands to the assignee (new lessee), effectively granting them certain rights and privileges associated with the nonproducing lease. The assignment may specify the exact portion of land being transferred, along with any terms and conditions agreed upon by both parties. Keywords: Ohio, partial assignment, oil and gas lease, nonproducing lease, transfer of rights, interests, leased lands, assignor, assignee, ownership, rights and privileges, terms and conditions. Alternative types or variations of the Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may include: 1. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Working Interest: This type of assignment involves the transfer of ownership and working interest in a portion of the nonproducing lease. The assignee not only gains rights to the leased land but also assumes the responsibilities and costs associated with exploration, development, and production. 2. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Royalty Interest: Here, the assignment grants only the right to receive a percentage of the proceeds from production on the assigned lands. The assignee does not actively participate in the exploration or operation of the lease but enjoys a share of the revenue generated. 3. Ohio Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease with Override Interest: This type of assignment involves the transfer of a specific percentage of the royalties received by the assignor from the assigned lands. The assignee benefits from a predetermined portion of the royalties without actually owning any interest in the lease. These alternative types provide options for different arrangements and interests that can be negotiated between the assignor and assignee in a partial assignment of an oil and gas lease in Ohio.
