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 ).
Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction refers to a specific legal document that allows an overriding royalty interest owner to transfer or assign their interest in oil, gas, or mineral rights to another party in the county of Bexar, Texas. An overriding royalty interest (ORRIS) is a percentage of the revenue generated from the production and sale of oil, gas, or minerals, which is separate from the landowner's royalty interest. This type of assignment typically does not involve a proportionate reduction in the existing ownership of other interest holders. In Bexar, Texas, there may be different types of assignments of overriding royalty interests, including: 1. Absolute Assignment: This refers to the complete transfer of the overriding royalty interest from the current owner to a new party, without any retention of rights or future benefits. 2. Partial Assignment: In this case, the overriding royalty interest owner transfers only a portion of their interest to another party while retaining a percentage for themselves. 3. Temporary Assignment: Sometimes, an overriding royalty interest owner may assign their interest temporarily for a fixed period or until certain conditions are met. This allows for a temporary transfer of revenue rights. 4. Perpetual Assignment: This type of assignment involves the permanent transfer of the overriding royalty interest without any time restrictions or conditions. The new owner assumes all rights and benefits associated with the interest. The Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction document outlines the details of the transfer, including the legal description of the property, the percentage of interest being assigned, and any terms or conditions agreed upon by both parties. It may also include provisions regarding future developments, obligations, and any potential limitations or reservations outlined by the assignor. Overall, the Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction enables overriding royalty interest owners to transfer their interests in Bexar County while ensuring that there is no reduction in the proportionate ownership of other interest holders.Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction refers to a specific legal document that allows an overriding royalty interest owner to transfer or assign their interest in oil, gas, or mineral rights to another party in the county of Bexar, Texas. An overriding royalty interest (ORRIS) is a percentage of the revenue generated from the production and sale of oil, gas, or minerals, which is separate from the landowner's royalty interest. This type of assignment typically does not involve a proportionate reduction in the existing ownership of other interest holders. In Bexar, Texas, there may be different types of assignments of overriding royalty interests, including: 1. Absolute Assignment: This refers to the complete transfer of the overriding royalty interest from the current owner to a new party, without any retention of rights or future benefits. 2. Partial Assignment: In this case, the overriding royalty interest owner transfers only a portion of their interest to another party while retaining a percentage for themselves. 3. Temporary Assignment: Sometimes, an overriding royalty interest owner may assign their interest temporarily for a fixed period or until certain conditions are met. This allows for a temporary transfer of revenue rights. 4. Perpetual Assignment: This type of assignment involves the permanent transfer of the overriding royalty interest without any time restrictions or conditions. The new owner assumes all rights and benefits associated with the interest. The Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction document outlines the details of the transfer, including the legal description of the property, the percentage of interest being assigned, and any terms or conditions agreed upon by both parties. It may also include provisions regarding future developments, obligations, and any potential limitations or reservations outlined by the assignor. Overall, the Bexar Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction enables overriding royalty interest owners to transfer their interests in Bexar County while ensuring that there is no reduction in the proportionate ownership of other interest holders.
