Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Kings
• Control #: US-OG-269
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee interests in leases and all oil, gas and other minerals produced, saved and sold from the Lease and Land. Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest is a legal document that pertains to the transfer of rights and interests in oil, gas, and mineral leases within the Kings County region of New York. This assignment allows for the partial transfer of ownership while reserving an overriding royalty interest for the assignor. In this type of agreement, the assignor grants a portion of their ownership rights in the leases to the assignee. However, the assignor also retains an overriding royalty interest, which means they are entitled to a percentage of the revenue generated from the production or extraction of oil, gas, or minerals from the leased land. The Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest can be further categorized into different types based on specific conditions or agreements. Some common types may include: 1. Partial Assignment with Fixed Percentage Royalty: This type of assignment involves a fixed percentage of the revenue being retained by the assignor as an overriding royalty interest. 2. Partial Assignment with Sliding Scale Royalty: In this variant, the royalty percentage retained by the assignor may vary based on the production levels or market conditions. The assignor may receive a higher royalty if the production exceeds certain thresholds or if the market price of oil, gas, or minerals is favorable. 3. Partial Assignment with Time-limited Royalty: This type of assignment may grant the assignor an overriding royalty interest for a specific period. After the designated time period expires, the assignor's royalty interest may terminate or be subject to renegotiation. 4. Partial Assignment with Residual Royalty: In certain cases, the assignor may retain a residual royalty interest, which means they receive a percentage of revenue only after the assignee recoups their initial investment or reaches a certain profit threshold. It is important to consult legal professionals or experts to ensure a comprehensive understanding of the specific terms, conditions, and variations of the Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest. This document plays a crucial role in delineating the rights, responsibilities, and financial interests of both the assignor and assignee in relation to oil, gas, and mineral extraction activities within the Kings County region of New York.

Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest is a legal document that pertains to the transfer of rights and interests in oil, gas, and mineral leases within the Kings County region of New York. This assignment allows for the partial transfer of ownership while reserving an overriding royalty interest for the assignor. In this type of agreement, the assignor grants a portion of their ownership rights in the leases to the assignee. However, the assignor also retains an overriding royalty interest, which means they are entitled to a percentage of the revenue generated from the production or extraction of oil, gas, or minerals from the leased land. The Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest can be further categorized into different types based on specific conditions or agreements. Some common types may include: 1. Partial Assignment with Fixed Percentage Royalty: This type of assignment involves a fixed percentage of the revenue being retained by the assignor as an overriding royalty interest. 2. Partial Assignment with Sliding Scale Royalty: In this variant, the royalty percentage retained by the assignor may vary based on the production levels or market conditions. The assignor may receive a higher royalty if the production exceeds certain thresholds or if the market price of oil, gas, or minerals is favorable. 3. Partial Assignment with Time-limited Royalty: This type of assignment may grant the assignor an overriding royalty interest for a specific period. After the designated time period expires, the assignor's royalty interest may terminate or be subject to renegotiation. 4. Partial Assignment with Residual Royalty: In certain cases, the assignor may retain a residual royalty interest, which means they receive a percentage of revenue only after the assignee recoups their initial investment or reaches a certain profit threshold. It is important to consult legal professionals or experts to ensure a comprehensive understanding of the specific terms, conditions, and variations of the Kings New York Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest. This document plays a crucial role in delineating the rights, responsibilities, and financial interests of both the assignor and assignee in relation to oil, gas, and mineral extraction activities within the Kings County region of New York.