Bexar Texas Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Bexar
• Control #: US-OG-287
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land. Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that outlines the transfer of a specific percentage of an overriding royalty interest from a working interest owner to another party in the Bexar County region of Texas. This assignment is applicable in situations where there is a single lease involved. The assignment of overriding royalty interest refers to the transfer of a certain percentage of the royalty interest from the working interest owner to another individual or entity. The overriding royalty interest is an interest in the production of oil, gas, or minerals, which is separate from the working interest. It entitles the overriding royalty interest holder to receive a portion of the revenue generated from the lease. The Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is structured to include the following key components: 1. Parties Involved: The assignment document will identify the working interest owner transferring the overriding royalty interest and the recipient of the interest. 2. Single Lease: This assignment is specifically intended for situations involving one lease only. 3. Stated Percentage: The assignment will state the exact percentage of the overriding royalty interest being transferred. This could range from a fraction to a whole number percentage. 4. Legal Considerations: The assignment will include clauses addressing legal matters such as the representation and warranties of the parties involved, indemnity, and governing law provisions. 5. Execution and Effective Date: The document will include spaces for the parties' signatures and the date on which the assignment becomes effective. Variations of the Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage may exist depending on specific circumstances or additional terms negotiated between the parties involved. However, the core elements mentioned above remain consistent. To ensure a smooth transfer of overriding royalty interest, it is advisable for the parties involved to consult with legal professionals experienced in the oil, gas, and mineral rights industry. They can provide guidance on relevant Texas laws, negotiate terms, and draft a comprehensive assignment document that protects the rights and interests of all parties involved.

Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that outlines the transfer of a specific percentage of an overriding royalty interest from a working interest owner to another party in the Bexar County region of Texas. This assignment is applicable in situations where there is a single lease involved. The assignment of overriding royalty interest refers to the transfer of a certain percentage of the royalty interest from the working interest owner to another individual or entity. The overriding royalty interest is an interest in the production of oil, gas, or minerals, which is separate from the working interest. It entitles the overriding royalty interest holder to receive a portion of the revenue generated from the lease. The Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is structured to include the following key components: 1. Parties Involved: The assignment document will identify the working interest owner transferring the overriding royalty interest and the recipient of the interest. 2. Single Lease: This assignment is specifically intended for situations involving one lease only. 3. Stated Percentage: The assignment will state the exact percentage of the overriding royalty interest being transferred. This could range from a fraction to a whole number percentage. 4. Legal Considerations: The assignment will include clauses addressing legal matters such as the representation and warranties of the parties involved, indemnity, and governing law provisions. 5. Execution and Effective Date: The document will include spaces for the parties' signatures and the date on which the assignment becomes effective. Variations of the Bexar Texas Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage may exist depending on specific circumstances or additional terms negotiated between the parties involved. However, the core elements mentioned above remain consistent. To ensure a smooth transfer of overriding royalty interest, it is advisable for the parties involved to consult with legal professionals experienced in the oil, gas, and mineral rights industry. They can provide guidance on relevant Texas laws, negotiate terms, and draft a comprehensive assignment document that protects the rights and interests of all parties involved.