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 ).
A King Washington Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, refers to a legal document that outlines the transfer of a party's interest and rights to receive royalty payments from an oil or gas lease. This assignment takes place without any proportionate reduction in the assignment owner's royalty interest. In the context of oil or gas exploration and production, an overriding royalty interest (ORRIS) is a non-operating interest that entitles the owner to a percentage of the oil or gas production from a specific lease. This interest is often retained by the lessor or conveyed to a third party, known as the overriding royalty interest owner. The King Washington Assignment of Overriding Royalty Interest allows the owner of the overriding royalty interest to assign their interest to another party without reducing their proportionate share of royalty payments. This means that the new assignee will receive the assigned portion of the royalty interest, while the assignor retains their original royalty interest without any reduction. The purpose of this assignment may vary depending on the specific circumstances, such as the need for liquidity, investment diversification, or estate planning. It provides flexibility for the overriding royalty interest owner to sell or transfer a portion of their interest while maintaining their existing share of royalty payments. Potential keywords for this topic could include: 1. King Washington Assignment 2. Overriding Royalty Interest 3. Royalty Interest Owner 4. No Proportionate Reduction 5. Oil and Gas Lease 6. Oil and Gas Exploration 7. Non-Operating Interest 8. Royalty Payments 9. Assignee 10. Assignor 11. Liquidity 12. Investment Diversification 13. Estate Planning Different types of King Washington Assignments of Overriding Royalty Interest may include variations in the percentage of interest being assigned, the specific lease or leases involved, and the considerations or compensation agreed upon between the assignor and assignee. These types can be named as per the unique circumstances of each assignment and the parties involved.A King Washington Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, refers to a legal document that outlines the transfer of a party's interest and rights to receive royalty payments from an oil or gas lease. This assignment takes place without any proportionate reduction in the assignment owner's royalty interest. In the context of oil or gas exploration and production, an overriding royalty interest (ORRIS) is a non-operating interest that entitles the owner to a percentage of the oil or gas production from a specific lease. This interest is often retained by the lessor or conveyed to a third party, known as the overriding royalty interest owner. The King Washington Assignment of Overriding Royalty Interest allows the owner of the overriding royalty interest to assign their interest to another party without reducing their proportionate share of royalty payments. This means that the new assignee will receive the assigned portion of the royalty interest, while the assignor retains their original royalty interest without any reduction. The purpose of this assignment may vary depending on the specific circumstances, such as the need for liquidity, investment diversification, or estate planning. It provides flexibility for the overriding royalty interest owner to sell or transfer a portion of their interest while maintaining their existing share of royalty payments. Potential keywords for this topic could include: 1. King Washington Assignment 2. Overriding Royalty Interest 3. Royalty Interest Owner 4. No Proportionate Reduction 5. Oil and Gas Lease 6. Oil and Gas Exploration 7. Non-Operating Interest 8. Royalty Payments 9. Assignee 10. Assignor 11. Liquidity 12. Investment Diversification 13. Estate Planning Different types of King Washington Assignments of Overriding Royalty Interest may include variations in the percentage of interest being assigned, the specific lease or leases involved, and the considerations or compensation agreed upon between the assignor and assignee. These types can be named as per the unique circumstances of each assignment and the parties involved.
