Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-691
• 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 non-producing Leases. Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool is a legal document used in the oil and gas industry in the state of Ohio. This assignment allows the transfer of overriding royalty interests from one party (assignor) to another party (assignee) for multiple leases that are currently non-producing. Additionally, it includes a reservation of the right to pool the leases for future production purposes. Keywords: Ohio, Assignment of Overriding Royalty Interest, Multiple Leases, Non-Producing, Reservation, Right to Pool Types of Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool: 1. Voluntary Assignment: This type of assignment occurs when both the assignor and assignee willingly agree to the transfer of overriding royalty interests in non-producing leases. It involves a mutual understanding and consent between the parties involved. 2. Involuntary Assignment: In some cases, an assignment may be enforced by legal means due to contractual obligations or disputes. An involuntary assignment can occur when one party is compelled to transfer their overriding royalty interests to another party, even if the leases are non-producing. 3. Partial Assignment: A partial assignment refers to the transfer of only a portion of the overriding royalty interests from one party to another. This type of assignment allows for the division of royalties between multiple assignees, each receiving a specific percentage of the interests. 4. Assignment with Consideration: In certain situations, an overriding royalty assignment may involve financial considerations. The assignee may provide compensation or other valuable assets to the assignor in exchange for the transfer of the royalty interests. 5. Assignment with Stipulations: Sometimes, an assignment may include specific stipulations or conditions set by either the assignor or assignee. These conditions can be related to future pooling arrangements, duration of the assignment, or any other agreed-upon terms and restrictions. Overall, the Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool is a legal mechanism that facilitates the transfer of non-producing lease interests while reserving the right to pool the leases for future production purposes. It is important to review and understand the specific terms and conditions of each assignment to ensure compliance with Ohio state laws and regulations.

Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool is a legal document used in the oil and gas industry in the state of Ohio. This assignment allows the transfer of overriding royalty interests from one party (assignor) to another party (assignee) for multiple leases that are currently non-producing. Additionally, it includes a reservation of the right to pool the leases for future production purposes. Keywords: Ohio, Assignment of Overriding Royalty Interest, Multiple Leases, Non-Producing, Reservation, Right to Pool Types of Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool: 1. Voluntary Assignment: This type of assignment occurs when both the assignor and assignee willingly agree to the transfer of overriding royalty interests in non-producing leases. It involves a mutual understanding and consent between the parties involved. 2. Involuntary Assignment: In some cases, an assignment may be enforced by legal means due to contractual obligations or disputes. An involuntary assignment can occur when one party is compelled to transfer their overriding royalty interests to another party, even if the leases are non-producing. 3. Partial Assignment: A partial assignment refers to the transfer of only a portion of the overriding royalty interests from one party to another. This type of assignment allows for the division of royalties between multiple assignees, each receiving a specific percentage of the interests. 4. Assignment with Consideration: In certain situations, an overriding royalty assignment may involve financial considerations. The assignee may provide compensation or other valuable assets to the assignor in exchange for the transfer of the royalty interests. 5. Assignment with Stipulations: Sometimes, an assignment may include specific stipulations or conditions set by either the assignor or assignee. These conditions can be related to future pooling arrangements, duration of the assignment, or any other agreed-upon terms and restrictions. Overall, the Ohio Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool is a legal mechanism that facilitates the transfer of non-producing lease interests while reserving the right to pool the leases for future production purposes. It is important to review and understand the specific terms and conditions of each assignment to ensure compliance with Ohio state laws and regulations.