Virginia Assignment of Overriding Royalty Interest (No Proportionate Reduction)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-939
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest with no proportionate reduction. Virginia Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that transfers the rights to receive royalty payments from an oil, gas, or mineral lease. In Virginia, there are different types of Assignment of Overriding Royalty Interest, each with its specific provisions and terms. In this particular type of assignment, the overriding royalty interest is transferred without any proportional reduction. This means that the assignee will receive a set percentage of the revenue generated from the lease, regardless of any future changes in ownership or production levels. Keywords: Virginia, Assignment of Overriding Royalty Interest, No Proportionate Reduction, oil lease, gas lease, mineral lease, royalty payments, legal document, transfer, assignee, revenue, ownership, production levels. Other types of Virginia Assignment of Overriding Royalty Interest may include: 1. Virginia Assignment of Overriding Royalty Interest (With Proportionate Reduction): This type of assignment allows for the proportionate reduction of the overriding royalty interest based on changes in ownership or production levels. It provides flexibility to adjust the assignee's share according to the lease's performance. 2. Virginia Assignment of Overriding Royalty Interest (Limited Duration): This type of assignment grants the overriding royalty interest for a specific period, after which the rights revert to the original owner or owner's heirs. It could be useful in situations where a temporary transfer of rights is desired. 3. Virginia Assignment of Overriding Royalty Interest (Specific Production): This type of assignment involves the transfer of the overriding royalty interest only on a specific production within a lease. It allows for focused arrangement and can be beneficial when multiple wells or areas of production are involved. 4. Virginia Assignment of Overriding Royalty Interest (Multi-Lease): This type of assignment covers multiple leases or properties, combining the overriding royalty interests into a single agreement. It simplifies management and ensures consistent terms and provisions across various leases. Keywords: Virginia, Assignment of Overriding Royalty Interest, Proportionate Reduction, Limited Duration, Specific Production, Multi-Lease, oil lease, gas lease, mineral lease, royalty payments, legal document, transfer, assignee, revenue, ownership, production levels.

Virginia Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that transfers the rights to receive royalty payments from an oil, gas, or mineral lease. In Virginia, there are different types of Assignment of Overriding Royalty Interest, each with its specific provisions and terms. In this particular type of assignment, the overriding royalty interest is transferred without any proportional reduction. This means that the assignee will receive a set percentage of the revenue generated from the lease, regardless of any future changes in ownership or production levels. Keywords: Virginia, Assignment of Overriding Royalty Interest, No Proportionate Reduction, oil lease, gas lease, mineral lease, royalty payments, legal document, transfer, assignee, revenue, ownership, production levels. Other types of Virginia Assignment of Overriding Royalty Interest may include: 1. Virginia Assignment of Overriding Royalty Interest (With Proportionate Reduction): This type of assignment allows for the proportionate reduction of the overriding royalty interest based on changes in ownership or production levels. It provides flexibility to adjust the assignee's share according to the lease's performance. 2. Virginia Assignment of Overriding Royalty Interest (Limited Duration): This type of assignment grants the overriding royalty interest for a specific period, after which the rights revert to the original owner or owner's heirs. It could be useful in situations where a temporary transfer of rights is desired. 3. Virginia Assignment of Overriding Royalty Interest (Specific Production): This type of assignment involves the transfer of the overriding royalty interest only on a specific production within a lease. It allows for focused arrangement and can be beneficial when multiple wells or areas of production are involved. 4. Virginia Assignment of Overriding Royalty Interest (Multi-Lease): This type of assignment covers multiple leases or properties, combining the overriding royalty interests into a single agreement. It simplifies management and ensures consistent terms and provisions across various leases. Keywords: Virginia, Assignment of Overriding Royalty Interest, Proportionate Reduction, Limited Duration, Specific Production, Multi-Lease, oil lease, gas lease, mineral lease, royalty payments, legal document, transfer, assignee, revenue, ownership, production levels.