The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
The Alameda California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal agreement that involves the transfer or assignment of an overriding royalty interest (ORRIS) in an oil and gas property located in Alameda, California. This assignment allows the current owner of the ORRIS to transfer their interest to another party without any reduction in proportionate ownership. An overriding royalty interest is a share of the revenue generated from the production of oil and gas that is separate from the mineral rights' ownership. It is usually granted to a third party, such as an investor, in exchange for funding or services related to the development of the property. The Alameda California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, protects the overriding royalty interest owner's rights and ensures that the transfer of the interest does not affect their proportionate share of the revenue generated. This means that even after the assignment, the owner will continue to receive the same percentage or proportion of the revenue as before. This type of assignment is particularly significant when there are multiple overriding royalty interest owners in the property. By stating "No Proportionate Reduction," it guarantees that the assignment will not alter the distribution of revenue among the various owners based on their respective percentages or proportions. In the context of Alameda, California, there may be different variations of the Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction. These variations could include specific terms and conditions tailored to the unique characteristics of the Alameda oil and gas property or other legal provisions specific to the state of California. It is essential for all parties involved in this assignment to carefully review and understand the terms of the agreement, as well as seek legal advice to ensure compliance with state and local laws.The Alameda California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal agreement that involves the transfer or assignment of an overriding royalty interest (ORRIS) in an oil and gas property located in Alameda, California. This assignment allows the current owner of the ORRIS to transfer their interest to another party without any reduction in proportionate ownership. An overriding royalty interest is a share of the revenue generated from the production of oil and gas that is separate from the mineral rights' ownership. It is usually granted to a third party, such as an investor, in exchange for funding or services related to the development of the property. The Alameda California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, protects the overriding royalty interest owner's rights and ensures that the transfer of the interest does not affect their proportionate share of the revenue generated. This means that even after the assignment, the owner will continue to receive the same percentage or proportion of the revenue as before. This type of assignment is particularly significant when there are multiple overriding royalty interest owners in the property. By stating "No Proportionate Reduction," it guarantees that the assignment will not alter the distribution of revenue among the various owners based on their respective percentages or proportions. In the context of Alameda, California, there may be different variations of the Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction. These variations could include specific terms and conditions tailored to the unique characteristics of the Alameda oil and gas property or other legal provisions specific to the state of California. It is essential for all parties involved in this assignment to carefully review and understand the terms of the agreement, as well as seek legal advice to ensure compliance with state and local laws.
