This form is used when an Assignor assigns, transfers, and conveys to Assignee an overriding royalty interest in the Lease and all of the oil and gas produced, saved and marketed from the Lease, out of the interest owned by Assignor, with proportionate reduction (the Override ).
A South Dakota Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction refers to a legal document that allows the transfer of a portion of the overriding royalty interest (ORRIS) from one party to another in South Dakota. This assignment is conducted through a proportional reduction, where the assignor transfers a specific percentage of their ORRIS to the assignee. ORRIS is a right to a portion of the revenue generated by the production of minerals, such as oil, gas, or other natural resources, from a leased property. It is typically granted to a party (assignor) by the owner or lessee of the leased property in exchange for certain considerations. In the context of South Dakota, there may be different types of Assignments of Overriding Royalty Interest for Single Lease — Proportionate reduction, including: 1. South Dakota Oil and Gas Lease Assignment — Proportional Reduction: This type of assignment is specific to oil and gas leases in South Dakota. It allows for the proportional reduction of the assignor's ORRIS in favor of the assignee. 2. South Dakota Mining Lease Assignment — Proportional Reduction: This type of assignment applies to mining leases in South Dakota, where minerals like coal, uranium, or other valuable substances are extracted. The assignor can transfer a part of their ORRIS to the assignee through a proportional reduction. 3. South Dakota Wind Energy Lease Assignment — Proportional Reduction: This assignment type pertains to wind energy leases in South Dakota. As wind power becomes increasingly important, property owners may lease their land to wind energy companies for the installation and operation of wind turbines. The assignment allows for the proportional reduction of the assignor's ORRIS in the context of these wind energy leases. It is important to note that the specific terms and conditions of an Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction may vary depending on the parties involved and the nature of the lease. These assignments often require legal expertise to ensure compliance with South Dakota laws and appropriate documentation.A South Dakota Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction refers to a legal document that allows the transfer of a portion of the overriding royalty interest (ORRIS) from one party to another in South Dakota. This assignment is conducted through a proportional reduction, where the assignor transfers a specific percentage of their ORRIS to the assignee. ORRIS is a right to a portion of the revenue generated by the production of minerals, such as oil, gas, or other natural resources, from a leased property. It is typically granted to a party (assignor) by the owner or lessee of the leased property in exchange for certain considerations. In the context of South Dakota, there may be different types of Assignments of Overriding Royalty Interest for Single Lease — Proportionate reduction, including: 1. South Dakota Oil and Gas Lease Assignment — Proportional Reduction: This type of assignment is specific to oil and gas leases in South Dakota. It allows for the proportional reduction of the assignor's ORRIS in favor of the assignee. 2. South Dakota Mining Lease Assignment — Proportional Reduction: This type of assignment applies to mining leases in South Dakota, where minerals like coal, uranium, or other valuable substances are extracted. The assignor can transfer a part of their ORRIS to the assignee through a proportional reduction. 3. South Dakota Wind Energy Lease Assignment — Proportional Reduction: This assignment type pertains to wind energy leases in South Dakota. As wind power becomes increasingly important, property owners may lease their land to wind energy companies for the installation and operation of wind turbines. The assignment allows for the proportional reduction of the assignor's ORRIS in the context of these wind energy leases. It is important to note that the specific terms and conditions of an Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction may vary depending on the parties involved and the nature of the lease. These assignments often require legal expertise to ensure compliance with South Dakota laws and appropriate documentation.
