West Virginia Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-287
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land. A West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that allows the owner of the working interest in an oil, gas, or mineral lease located in West Virginia to assign a portion or percentage of their overriding royalty interest to another party. This assignment typically outlines the terms and conditions under which the working interest owner transfers a specific percentage of the overriding royalty interest to the assignee. Keywords: West Virginia, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. There are a few different types or variations of West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage that can exist: 1. Fixed Percentage Assignment: This type of assignment specifies a fixed percentage of the overriding royalty interest that the working interest owner transfers to the assignee. For example, if the working interest owner has an overriding royalty interest of 10% in a lease, they may assign 5% of that interest to the assignee. 2. Temporary Assignment: Sometimes, a working interest owner may temporarily assign a percentage of their overriding royalty interest to another party for a specific period. This temporary assignment allows the assignee to receive the assigned percentage of the overriding royalty interest for a limited time, after which the interest reverts to the working interest owner. 3. Perpetual Assignment: In contrast to a temporary assignment, a perpetual assignment of overriding royalty interest transfers the stated percentage of interest to the assignee permanently. The assignee will continue to receive their assigned percentage of the overriding royalty interest for the entire duration of the lease or until the assignment is further assigned or extinguished. 4. Partial Assignment: A partial assignment is when the working interest owner assigns a portion or stated percentage of their overriding royalty interest, while retaining the remainder for themselves. This type of assignment allows the working interest owner to share a portion of their interest with the assignee while still retaining an ownership stake. In summary, a West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that enables a working interest owner in West Virginia to assign a specific percentage or portion of their overriding royalty interest to another party. This assignment can take various forms, including fixed percentage, temporary, perpetual, or partial assignments, depending on the specific circumstances and intentions of the parties involved.

A West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that allows the owner of the working interest in an oil, gas, or mineral lease located in West Virginia to assign a portion or percentage of their overriding royalty interest to another party. This assignment typically outlines the terms and conditions under which the working interest owner transfers a specific percentage of the overriding royalty interest to the assignee. Keywords: West Virginia, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. There are a few different types or variations of West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage that can exist: 1. Fixed Percentage Assignment: This type of assignment specifies a fixed percentage of the overriding royalty interest that the working interest owner transfers to the assignee. For example, if the working interest owner has an overriding royalty interest of 10% in a lease, they may assign 5% of that interest to the assignee. 2. Temporary Assignment: Sometimes, a working interest owner may temporarily assign a percentage of their overriding royalty interest to another party for a specific period. This temporary assignment allows the assignee to receive the assigned percentage of the overriding royalty interest for a limited time, after which the interest reverts to the working interest owner. 3. Perpetual Assignment: In contrast to a temporary assignment, a perpetual assignment of overriding royalty interest transfers the stated percentage of interest to the assignee permanently. The assignee will continue to receive their assigned percentage of the overriding royalty interest for the entire duration of the lease or until the assignment is further assigned or extinguished. 4. Partial Assignment: A partial assignment is when the working interest owner assigns a portion or stated percentage of their overriding royalty interest, while retaining the remainder for themselves. This type of assignment allows the working interest owner to share a portion of their interest with the assignee while still retaining an ownership stake. In summary, a West Virginia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that enables a working interest owner in West Virginia to assign a specific percentage or portion of their overriding royalty interest to another party. This assignment can take various forms, including fixed percentage, temporary, perpetual, or partial assignments, depending on the specific circumstances and intentions of the parties involved.