King Washington Assignment and Conveyance of Overriding Royalty Interest

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: King
• 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. The King Washington Assignment and Conveyance of Overriding Royalty Interest is a legal document that transfers or assigns the rights to receive royalties from oil and gas production to another party. This document outlines the terms and conditions of the assignment, including the specific interest being conveyed and any associated obligations. There are different types of King Washington Assignment and Conveyance of Overriding Royalty Interest, such as: 1. Partial Assignment: This type involves transferring only a portion of the overriding royalty interest to another party. The assigned interest may be a percentage or a fraction of the original interest. 2. Full Assignment: In this case, the entire overriding royalty interest is being conveyed to another party. The assignee will assume all responsibilities and benefits associated with the interest. 3. Temporary Assignment: Sometimes, a royalty interest may be temporarily assigned for a specified period or until certain conditions are met. This type of assignment allows parties to benefit from the interest for a limited time. 4. Permanent Assignment: On the other hand, a permanent assignment means that the overriding royalty interest is transferred permanently to the assignee, without any conditions or restrictions. The King Washington Assignment and Conveyance of Overriding Royalty Interest document includes key details such as: — Parties Involved: The document identifies the assignor (the current holder of the royalty interest) and the assignee (the party receiving the interest). — Description of Interest: It outlines the specific overriding royalty interest being conveyed, including the percentage or fraction associated with the interest. — Consideration: The document specifies any monetary or non-monetary consideration exchanged as part of the assignment. — Terms and Conditions: This section outlines any obligations, restrictions, or limitations associated with the assignment. It may include provisions related to confidentiality, audit rights, or dispute resolution mechanisms. — Effective Date: The document provides a clear effective date that marks when the assignment becomes valid and enforceable. The King Washington Assignment and Conveyance of Overriding Royalty Interest serves as a legal instrument, ensuring a smooth transfer of royalty interests while protecting the rights and responsibilities of all parties involved. It is essential to consult legal professionals and experts familiar with oil and gas regulations when drafting or entering into such agreements.

The King Washington Assignment and Conveyance of Overriding Royalty Interest is a legal document that transfers or assigns the rights to receive royalties from oil and gas production to another party. This document outlines the terms and conditions of the assignment, including the specific interest being conveyed and any associated obligations. There are different types of King Washington Assignment and Conveyance of Overriding Royalty Interest, such as: 1. Partial Assignment: This type involves transferring only a portion of the overriding royalty interest to another party. The assigned interest may be a percentage or a fraction of the original interest. 2. Full Assignment: In this case, the entire overriding royalty interest is being conveyed to another party. The assignee will assume all responsibilities and benefits associated with the interest. 3. Temporary Assignment: Sometimes, a royalty interest may be temporarily assigned for a specified period or until certain conditions are met. This type of assignment allows parties to benefit from the interest for a limited time. 4. Permanent Assignment: On the other hand, a permanent assignment means that the overriding royalty interest is transferred permanently to the assignee, without any conditions or restrictions. The King Washington Assignment and Conveyance of Overriding Royalty Interest document includes key details such as: — Parties Involved: The document identifies the assignor (the current holder of the royalty interest) and the assignee (the party receiving the interest). — Description of Interest: It outlines the specific overriding royalty interest being conveyed, including the percentage or fraction associated with the interest. — Consideration: The document specifies any monetary or non-monetary consideration exchanged as part of the assignment. — Terms and Conditions: This section outlines any obligations, restrictions, or limitations associated with the assignment. It may include provisions related to confidentiality, audit rights, or dispute resolution mechanisms. — Effective Date: The document provides a clear effective date that marks when the assignment becomes valid and enforceable. The King Washington Assignment and Conveyance of Overriding Royalty Interest serves as a legal instrument, ensuring a smooth transfer of royalty interests while protecting the rights and responsibilities of all parties involved. It is essential to consult legal professionals and experts familiar with oil and gas regulations when drafting or entering into such agreements.