US Legal Forms
Localized Forms
Arizona
Maricopa
Assignment and Conveyance of Overriding Royalty Interest

Maricopa Arizona Assignment and Conveyance of Overriding Royalty Interest

Name: Maricopa Arizona Assignment and Conveyance of Overriding Royalty Interest
Brand: US Legal Forms
Rating: 4.71 (436 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Maricopa

Control #:

US-OG-280

Format:

Instant download

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. Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest is a legal document used in the oil and gas industry to transfer ownership of an overriding royalty interest (ORI) from one party to another in Maricopa, Arizona. This assignment is a crucial step in the transfer of interests in oil and gas leases and helps facilitate the management and distribution of the revenue generated from the lease. Keywords: Maricopa, Arizona, Assignment and Conveyance, Overriding Royalty Interest, legal document, oil and gas industry, transfer ownership, interests, leases, revenue. There are different types of Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest, including: 1. Full Assignment: This type of assignment transfers the entire overriding royalty interest from the assignor to the assignee. The assignee assumes complete ownership and rights over the ORI. 2. Partial Assignment: In a partial assignment, only a portion of the overriding royalty interest is transferred to the assignee. The assignor retains the remaining interests and continues to receive a percentage of the revenue generated. 3. Temporary Assignment: This type of assignment allows the assignee to hold the overriding royalty interest for a limited period, which is specified in the agreement. After the specified period, the interest reverts to the assignor. 4. Permanent Assignment: A permanent assignment transfers the overriding royalty interest in perpetuity, without any time restrictions or reversion rights. The assignee becomes the permanent owner of the ORI. 5. Assignment with Reservation: This type of assignment involves the transfer of overriding royalty interest from the assignor to the assignee, with a reservation clause that allows the assignor to retain certain rights or benefits related to the ORI. 6. Assignment and Conveyance of ORI in Multiple Leases: Some assignments may involve the transfer of overriding royalty interest across multiple oil and gas leases. This allows for efficient management and consolidation of interests. It is important to consult with legal professionals who specialize in oil and gas transactions to ensure that the Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest accurately reflects the intentions of the parties involved and complies with all relevant laws and regulations.

Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest is a legal document used in the oil and gas industry to transfer ownership of an overriding royalty interest (ORI) from one party to another in Maricopa, Arizona. This assignment is a crucial step in the transfer of interests in oil and gas leases and helps facilitate the management and distribution of the revenue generated from the lease. Keywords: Maricopa, Arizona, Assignment and Conveyance, Overriding Royalty Interest, legal document, oil and gas industry, transfer ownership, interests, leases, revenue. There are different types of Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest, including: 1. Full Assignment: This type of assignment transfers the entire overriding royalty interest from the assignor to the assignee. The assignee assumes complete ownership and rights over the ORI. 2. Partial Assignment: In a partial assignment, only a portion of the overriding royalty interest is transferred to the assignee. The assignor retains the remaining interests and continues to receive a percentage of the revenue generated. 3. Temporary Assignment: This type of assignment allows the assignee to hold the overriding royalty interest for a limited period, which is specified in the agreement. After the specified period, the interest reverts to the assignor. 4. Permanent Assignment: A permanent assignment transfers the overriding royalty interest in perpetuity, without any time restrictions or reversion rights. The assignee becomes the permanent owner of the ORI. 5. Assignment with Reservation: This type of assignment involves the transfer of overriding royalty interest from the assignor to the assignee, with a reservation clause that allows the assignor to retain certain rights or benefits related to the ORI. 6. Assignment and Conveyance of ORI in Multiple Leases: Some assignments may involve the transfer of overriding royalty interest across multiple oil and gas leases. This allows for efficient management and consolidation of interests. It is important to consult with legal professionals who specialize in oil and gas transactions to ensure that the Maricopa, Arizona Assignment and Conveyance of Overriding Royalty Interest accurately reflects the intentions of the parties involved and complies with all relevant laws and regulations.

Assignment of Overriding Royalty Interest ...

View this form

How to fill out Maricopa Arizona Assignment And Conveyance Of Overriding Royalty Interest?

If you need to get a reliable legal document provider to obtain the Maricopa Assignment and Conveyance of Overriding Royalty Interest, consider US Legal Forms. Whether you need to start your LLC business or take care of your belongings distribution, we got you covered. You don't need to be knowledgeable about in law to find and download the appropriate form.

You can browse from more than 85,000 forms categorized by state/county and situation.
The intuitive interface, variety of supporting materials, and dedicated support team make it easy to locate and execute different papers.
US Legal Forms is a reliable service providing legal forms to millions of customers since 1997.

Simply type to look for or browse Maricopa Assignment and Conveyance of Overriding Royalty Interest, either by a keyword or by the state/county the document is intended for. After finding the needed form, you can log in and download it or save it in the My Forms tab.

Don't have an account? It's simple to get started! Simply find the Maricopa Assignment and Conveyance of Overriding Royalty Interest template and take a look at the form's preview and short introductory information (if available). If you're confident about the template’s legalese, go ahead and hit Buy now. Create an account and select a subscription plan. The template will be immediately ready for download once the payment is processed. Now you can execute the form.

Handling your legal matters doesn’t have to be expensive or time-consuming. US Legal Forms is here to demonstrate it. Our extensive collection of legal forms makes this experience less costly and more reasonably priced. Set up your first company, organize your advance care planning, draft a real estate contract, or complete the Maricopa Assignment and Conveyance of Overriding Royalty Interest - all from the comfort of your home.

Form Rating

4.71

Satisfied(436)

Form popularity

FAQ

A gross overriding royalty entitles the owner to a share of the market price of the mined product as at the time they are available to be taken less any costs incurred by the operator to bring the product to the point of sale.

An overriding royalty interest (ORRI) is an undivided interest in a mineral lease giving the holder the right to a proportional share (receive revenue) of the sale of oil and gas produced. The ORRI is carved out of the working interest or lease.

An overriding royalty interest (ORRI) is similar to a royalty interest in that it is also a portion of the proceeds from the sale of production. However, it is not retained under the terms of the oil and gas lease. An ORRI is granted, assigned and created under the terms of a separate document.

You may convey overriding royalty interest on either an Assignment of Record Title Interest (Form 3000-3), a Transfer of Operating Rights (Form 3000-3a), or on a private assignment. We only require filing of one signed copy per assignment plus a nonrefundable filing fee found at 43 CFR 3000.12.

Royalty interest in the oil and gas industry refers to ownership of a portion of a resource or the revenue it produces. A company or person that owns a royalty interest does not bear any operational costs needed to produce the resource, yet they still own a portion of the resource or revenue it produces.

When valuing a royalty interest or ORRI, here are a few items to keep in mind: Understand the rights and restrictions of the subject royalty interest:Understand the differences between the subject ORRI and a publicly traded security that owns ORRI's and make adjustments for the differences;

1. n. Oil and Gas Business Ownership in a percentage of production or production revenues, free of the cost of production, created by the lessee, company and/or working interest owner and paid by the lessee, company and/or working interest owner out of revenue from the well.

If you receive more than $600 in a calendar year in overriding royalty interest payments, you will receive a 1099 tax form to claim the money as income during your annual tax filing.

More info

Overriding Royalty Interest Conveyance means an assignment in the form of Exhibit "F" pursuant to which Borrower conveys to Lender an ORRI from time to time. The opinion will include the ownership of the working interest, minerals, royalty, overriding.Faculty Work Assignments. The MCCCD assigns work to All Faculty for the direct benefit of the District and its students.

No fee is payable for assignment of work except when the work is for credit. All Faculty who are assigned to work are required to meet the requirements to satisfy the work eligibility requirements in Section 3.4 of BCR 2-104. All assignments must be approved by the MC CCD. Borrower acknowledges they may be charged tuition-related fees for work assigned. No more than 10% in any three-month period may be credited against the tuition for the next year. Undergraduate students only. 3.3. Academic Credit by Examination and Course Credit by Work Assignment. Borrower may receive credit for any course taken or examination offered for credit. Students must complete each course satisfactorily in order to receive credit. Borrowers for all classes in which credit may be awarded are required to complete registration form CR/NCR to receive credit. Students must also complete required assessments, in accordance with Section 4.4, “Assessment Requirements.

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Maricopa Arizona Assignment and Conveyance of Overriding Royalty Interest

Description

Related forms

Viewed forms

How to fill out Maricopa Arizona Assignment And Conveyance Of Overriding Royalty Interest?

Show more info

Form Rating

Form popularity

FAQ

What are gross overriding royalties?

What is an assignment of overriding royalty interest?

What is the difference between a royalty interest and an overriding royalty interest?

How do you transfer overriding royalty interest?

What is royalty interest?

How do I value my Orri?

What is an overriding royalty interest?

How is an overriding royalty interest taxed?

What is a overriding royalty interest?

What is the difference between royalty interest and overriding royalty interest?

More info

Trusted and secure by over 3 million people of the world’s leading companies