Wisconsin Assignment of Overriding Royalty Interest with Proportionate Reduction is a legal document used in the state of Wisconsin to transfer the rights to receive overriding royalty payments from one party to another, along with the accompanying reduction in proportionate share. Overriding royalty interest (ORRIS) refers to a non-operating interest in oil, gas, or mineral production, entitling the owner to a percentage of the revenue generated from the production. The assignment of overriding royalty interest involves the transfer of these rights from the assignor (current owner) to the assignee (new owner), with proportionate reduction accounting for a decrease in the assignor's share of the interest. There can be different types of Wisconsin Assignment of Overriding Royalty Interest with Proportionate Reduction, depending on the specific circumstances and parties involved. For instance, a partial assignment may involve the transfer of only a portion of the overriding royalty interest, while a complete assignment would entail the transfer of the entire interest. Keywords: Wisconsin, Assignment, Overriding Royalty Interest, Proportionate Reduction, legal document, transfer, non-operating interest, oil, gas, minerals, revenue, assignor, assignee, partial assignment, complete assignment.
Wisconsin Assignment of Overriding Royalty Interest with Proportionate Reduction
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