Los Angeles California Assignment of Overriding Royalty Interest For A Term of Years is a legal document used in the oil and gas industry. It involves the transfer of the right to receive a portion of the revenue generated from the production of hydrocarbons from one party to another for a specific period of time. In Los Angeles, California, there are several types of Assignment of Overriding Royalty Interest For A Term of Years, including: 1. Conveyance for a Fixed Term: This type of assignment involves the transfer of overriding royalty interest from the assignor to the assignee for a specified period, usually ranging from a few years to several decades. The assignee becomes entitled to receive a portion of the revenue generated from the production during the specified term. 2. Conveyance with Diversionary Interest: In this type of assignment, the overriding royalty interest is transferred to the assignee for a specific period, but upon the expiration of the term, the interest reverts to the assignor. This type of assignment allows the assignor to regain control over the royalty interest after a certain period. 3. Partial Assignment: This involves the transfer of a fractional portion or percentage of the overriding royalty interest to the assignee. The assignee will then receive a proportionate share of the revenue generated during the term of the assignment. 4. Whole Assignment: In a whole assignment, the assignor transfers the entire overriding royalty interest to the assignee for the term specified. The assignee becomes the sole recipient of the revenue generated from the production during the term. The Los Angeles California Assignment of Overriding Royalty Interest For A Term of Years typically includes important details, such as the names of the assignor and assignee, the effective date of the assignment, the term for which the interest is assigned, and the royalty percentage or fraction being conveyed. Keywords: Los Angeles California, assignment of overriding royalty interest, term of years, oil and gas industry, hydrocarbons, revenue, assignor, assignee, conveyance, fixed term, diversionary interest, partial assignment, whole assignment.
Los Angeles California Assignment of Overriding Royalty Interest For A Term of Years
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