Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Franklin
• Control #: US-OG-280
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease. Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is a legal document that pertains to the transfer of rights and interests in oil and gas properties located in Franklin, Ohio. This type of agreement allows one party, known as the assignor, to transfer their overriding royalty interest to another party, the assignee. A detailed description of this document includes the following key points: 1. Overview: The Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is a legally binding agreement that facilitates the transfer of overriding royalty interest from one party to another. 2. Parties Involved: The agreement identifies the assignor, who is the current holder of the overriding royalty interest, and the assignee, who is the party acquiring the rights and interests. 3. Property Description: The document should provide a detailed description of the oil and gas property located in Franklin, Ohio, including legal descriptions, well names, and other relevant identifiers. 4. Transfer of Rights: The agreement outlines the specific overriding royalty interest being transferred, which may include a percentage interest in future oil and gas production, revenue, or other benefits derived from the property. 5. Consideration: The agreement should state the consideration or compensation provided by the assignee to the assignor in exchange for the transfer of the overriding royalty interest. This may include a lump sum payment, installment payments, or a future interest in the property's revenue. 6. Representations and Warranties: Both parties typically provide representations and warranties stating that they have the legal right and authority to enter into the agreement and that the property and overriding royalty interest are not subject to any encumbrances or claims. Different types of Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest may include variations in the percentage interest being transferred, the consideration involved, or any specific terms and conditions agreed upon by the parties. For example, there could be agreements that transfer a fixed percentage interest over a specific time period or agreements that include additional provisions such as drilling obligations or acreage restrictions. In conclusion, the Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is an essential legal document that facilitates the transfer of rights and interests in oil and gas properties in Franklin, Ohio. It includes detailed descriptions of the property, identifies the parties involved, outlines the specific interests being transferred, sets forth the consideration, and provides representations and warranties. There may be various types of this agreement, each tailored to the specific terms and conditions agreed upon by the parties involved.

Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is a legal document that pertains to the transfer of rights and interests in oil and gas properties located in Franklin, Ohio. This type of agreement allows one party, known as the assignor, to transfer their overriding royalty interest to another party, the assignee. A detailed description of this document includes the following key points: 1. Overview: The Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is a legally binding agreement that facilitates the transfer of overriding royalty interest from one party to another. 2. Parties Involved: The agreement identifies the assignor, who is the current holder of the overriding royalty interest, and the assignee, who is the party acquiring the rights and interests. 3. Property Description: The document should provide a detailed description of the oil and gas property located in Franklin, Ohio, including legal descriptions, well names, and other relevant identifiers. 4. Transfer of Rights: The agreement outlines the specific overriding royalty interest being transferred, which may include a percentage interest in future oil and gas production, revenue, or other benefits derived from the property. 5. Consideration: The agreement should state the consideration or compensation provided by the assignee to the assignor in exchange for the transfer of the overriding royalty interest. This may include a lump sum payment, installment payments, or a future interest in the property's revenue. 6. Representations and Warranties: Both parties typically provide representations and warranties stating that they have the legal right and authority to enter into the agreement and that the property and overriding royalty interest are not subject to any encumbrances or claims. Different types of Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest may include variations in the percentage interest being transferred, the consideration involved, or any specific terms and conditions agreed upon by the parties. For example, there could be agreements that transfer a fixed percentage interest over a specific time period or agreements that include additional provisions such as drilling obligations or acreage restrictions. In conclusion, the Franklin Ohio Assignment and Conveyance of Overriding Royalty Interest is an essential legal document that facilitates the transfer of rights and interests in oil and gas properties in Franklin, Ohio. It includes detailed descriptions of the property, identifies the parties involved, outlines the specific interests being transferred, sets forth the consideration, and provides representations and warranties. There may be various types of this agreement, each tailored to the specific terms and conditions agreed upon by the parties involved.