This form is used when an Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all oil, gas, and other minerals produced, saved, and marketed from the Lands and Leases equal to a percentage of 8/8 (the Override ).
Wyoming Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legally binding document that allows parties to transfer their overriding royalty interest (ORRIS) in multiple leases located in Wyoming. This comprehensive form ensures that the assignment of ORRIS is done without any proportionate reduction. Key elements of this long-form assignment include the identification of the assigning party (granter) and the receiving party (grantee), both of whom must be mentioned with their complete legal names and addresses. The document also requires a detailed description of the ORRIS being assigned, including the specific leases to which it pertains. Leases involved in this assignment may cover various types of minerals, such as oil, gas, or other valuable minerals found in Wyoming. The document must provide a clear description of the minerals granted, along with their specific locations, lease numbers, and any other relevant details. The long-form assignment should outline the consideration or compensation agreed upon between the parties for the transfer of the ORRIS. This may include monetary payments, rights to future profits, or any other agreed-upon arrangement. It is important to clearly state the terms and conditions of the assignment to avoid any potential disputes in the future. Different types of Wyoming Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include variations based on specific lease types, such as oil and gas leases or mining leases. While the basic structure remains the same, these variations may address industry-specific terms and requirements. By utilizing this long-form assignment, parties can ensure a legally sound transfer of ORRIS in Wyoming, protecting their rights and interests. It is advisable to seek legal counsel or expertise when drafting or executing such assignments to ensure compliance with state laws and regulations.Wyoming Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legally binding document that allows parties to transfer their overriding royalty interest (ORRIS) in multiple leases located in Wyoming. This comprehensive form ensures that the assignment of ORRIS is done without any proportionate reduction. Key elements of this long-form assignment include the identification of the assigning party (granter) and the receiving party (grantee), both of whom must be mentioned with their complete legal names and addresses. The document also requires a detailed description of the ORRIS being assigned, including the specific leases to which it pertains. Leases involved in this assignment may cover various types of minerals, such as oil, gas, or other valuable minerals found in Wyoming. The document must provide a clear description of the minerals granted, along with their specific locations, lease numbers, and any other relevant details. The long-form assignment should outline the consideration or compensation agreed upon between the parties for the transfer of the ORRIS. This may include monetary payments, rights to future profits, or any other agreed-upon arrangement. It is important to clearly state the terms and conditions of the assignment to avoid any potential disputes in the future. Different types of Wyoming Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include variations based on specific lease types, such as oil and gas leases or mining leases. While the basic structure remains the same, these variations may address industry-specific terms and requirements. By utilizing this long-form assignment, parties can ensure a legally sound transfer of ORRIS in Wyoming, protecting their rights and interests. It is advisable to seek legal counsel or expertise when drafting or executing such assignments to ensure compliance with state laws and regulations.
