This form is used when Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ).
Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors is a legal agreement that involves the transfer of an overriding royalty interest from multiple assignors to another party within the Collin County, Texas jurisdiction. This type of assignment is common in the oil and gas industry and is used to transfer the right to receive a percentage of the revenue generated from the production and extraction of oil and gas from a specific well or mineral lease. Multiple types of Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors include: 1. Non-Participating Royalty Interest (NPR) Assignment: This type of assignment involves the transfer of a non-participating royalty interest from multiple assignors. Non-participating royalty interest holders do not have the right to make decisions regarding the operations or development of the underlying lease, but they are entitled to receive a percentage of the royalty income. 2. Overriding Royalty Interest (ORRIS) Assignment: This assignment refers to the transfer of an overriding royalty interest to a third party by multiple assignors. The overriding royalty interest entitles the assignee to a percentage of the gross production of oil and gas, typically free of any production costs. 3. Assignment of Overriding Royalty Interest in Specific Leases: This type of assignment specifies the overriding royalty interest being transferred by multiple assignors in relation to specific oil and gas leases within Collin County, Texas. It outlines the legal description, lease names, and effective dates of the transfers. 4. Assignment of Overriding Royalty Interest in Multiple Wells: This assignment involves multiple assignors transferring overriding royalty interests in multiple wells situated within Collin County, Texas. It details the assigned percentages, lease names, identification numbers, and any specific terms or conditions related to each individual well. The Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors typically includes key elements such as the effective date, legal description of the overriding royalty interest, identification of the assignors and assignee, consideration for the assignment, representations and warranties, and any provisions for termination or assignment. It is crucial for all parties involved to consult with legal professionals experienced in oil and gas transactions to ensure compliance with relevant laws and regulations.Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors is a legal agreement that involves the transfer of an overriding royalty interest from multiple assignors to another party within the Collin County, Texas jurisdiction. This type of assignment is common in the oil and gas industry and is used to transfer the right to receive a percentage of the revenue generated from the production and extraction of oil and gas from a specific well or mineral lease. Multiple types of Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors include: 1. Non-Participating Royalty Interest (NPR) Assignment: This type of assignment involves the transfer of a non-participating royalty interest from multiple assignors. Non-participating royalty interest holders do not have the right to make decisions regarding the operations or development of the underlying lease, but they are entitled to receive a percentage of the royalty income. 2. Overriding Royalty Interest (ORRIS) Assignment: This assignment refers to the transfer of an overriding royalty interest to a third party by multiple assignors. The overriding royalty interest entitles the assignee to a percentage of the gross production of oil and gas, typically free of any production costs. 3. Assignment of Overriding Royalty Interest in Specific Leases: This type of assignment specifies the overriding royalty interest being transferred by multiple assignors in relation to specific oil and gas leases within Collin County, Texas. It outlines the legal description, lease names, and effective dates of the transfers. 4. Assignment of Overriding Royalty Interest in Multiple Wells: This assignment involves multiple assignors transferring overriding royalty interests in multiple wells situated within Collin County, Texas. It details the assigned percentages, lease names, identification numbers, and any specific terms or conditions related to each individual well. The Collin Texas Assignment of Overriding Royalty Interest in Multiple Assignors typically includes key elements such as the effective date, legal description of the overriding royalty interest, identification of the assignors and assignee, consideration for the assignment, representations and warranties, and any provisions for termination or assignment. It is crucial for all parties involved to consult with legal professionals experienced in oil and gas transactions to ensure compliance with relevant laws and regulations.
