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 Sacramento California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document that allows a current overriding royalty interest owner to assign their interest to another party without the need for a proportionate reduction. In Sacramento, California, there are several types of assignments of overriding royalty interest that fall under this category. Some common examples include: 1. Full Assignment: This type of assignment involves the transfer of the entire overriding royalty interest from one party to another. The overriding royalty interest owner gives up all rights, benefits, and obligations associated with the interest, while the assignee becomes the new owner. 2. Partial Assignment: In this case, the overriding royalty interest owner transfers only a portion of their interest to another party. This could be a fraction or percentage of the total interest, allowing the assignee to receive a proportionate share of the royalties derived from the assigned interest. 3. Non-Participating Assignment: This type of assignment allows the overriding royalty interest owner to transfer their interest without granting the assignee the right to participate in decision-making or operation of the underlying property. The assignee receives only the allocated royalties from the assigned interest. The "No Proportionate Reduction" clause in the Assignment of Overriding Royalty Interest means that the assignee will not bear any reduction in their share of royalties, even if the overall interest in the property is diluted due to other assignments or changes in ownership. This provision provides the assignee with the assurance that their share of royalties will remain unaffected. Keywords: Sacramento California, Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, types, full assignment, partial assignment, non-participating assignment, legal document.The Sacramento California Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document that allows a current overriding royalty interest owner to assign their interest to another party without the need for a proportionate reduction. In Sacramento, California, there are several types of assignments of overriding royalty interest that fall under this category. Some common examples include: 1. Full Assignment: This type of assignment involves the transfer of the entire overriding royalty interest from one party to another. The overriding royalty interest owner gives up all rights, benefits, and obligations associated with the interest, while the assignee becomes the new owner. 2. Partial Assignment: In this case, the overriding royalty interest owner transfers only a portion of their interest to another party. This could be a fraction or percentage of the total interest, allowing the assignee to receive a proportionate share of the royalties derived from the assigned interest. 3. Non-Participating Assignment: This type of assignment allows the overriding royalty interest owner to transfer their interest without granting the assignee the right to participate in decision-making or operation of the underlying property. The assignee receives only the allocated royalties from the assigned interest. The "No Proportionate Reduction" clause in the Assignment of Overriding Royalty Interest means that the assignee will not bear any reduction in their share of royalties, even if the overall interest in the property is diluted due to other assignments or changes in ownership. This provision provides the assignee with the assurance that their share of royalties will remain unaffected. Keywords: Sacramento California, Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, types, full assignment, partial assignment, non-participating assignment, legal document.
