Pima Arizona Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Pima
• Control #: US-OG-290
• 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, which is limited to depth. Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth is a legal agreement that pertains to the permissions and limitations associated with the transfer of mineral rights in the Lima region of Arizona. This type of arrangement specifically focuses on the extent to which the assigned party can claim rights over the depth of the mineral resources. In the context of mineral rights, an overriding royalty interest refers to a non-operating interest that grants a percentage of the revenue generated from mineral extraction to the interest holder, commonly referred to as the assignee. The terms of the assignment determine the extent of the depth over which this interest applies. Different types of Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth can be classified based on the depth restrictions specified within the assignment. These variations may include: 1. Shallow Depth Assignment: This type of assignment limits the overriding royalty interest to resources located within a specific depth range, typically closer to the surface. The assignee is entitled to royalties only from the extraction activities within this shallow depth range. 2. Deep Depth Assignment: In contrast to the shallow depth assignment, this type restricts the overriding royalty interest to resources located at greater depths. The assignee's entitlement to royalties is limited to the mineral extraction occurring below the specified depth range. 3. Dual Depth Assignment: This assignment type provides a more comprehensive approach by allowing the assignee to claim overriding royalty interest from mineral resources within two distinct depth ranges. The agreement specifies both shallow and deep depth limits, enabling the assignee to receive royalties from extraction activities occurring within those boundaries. When entering into a Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth, it is essential to consider the specific geological characteristics of the Lima region. Evaluating the depth and quality of mineral resources in the area can greatly influence the terms and conditions of such an assignment. Legal professionals with expertise in mineral rights and property law should be consulted to ensure clarity and accuracy in drafting and executing the assignment agreement. In conclusion, the Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal agreement that allows the transfer of mineral rights with specific restrictions based on the depth of the resources. The assignment types may vary, including shallow depth assignment, deep depth assignment, and dual depth assignment, each defining the extent of the assignee's entitlement to royalties.

Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth is a legal agreement that pertains to the permissions and limitations associated with the transfer of mineral rights in the Lima region of Arizona. This type of arrangement specifically focuses on the extent to which the assigned party can claim rights over the depth of the mineral resources. In the context of mineral rights, an overriding royalty interest refers to a non-operating interest that grants a percentage of the revenue generated from mineral extraction to the interest holder, commonly referred to as the assignee. The terms of the assignment determine the extent of the depth over which this interest applies. Different types of Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth can be classified based on the depth restrictions specified within the assignment. These variations may include: 1. Shallow Depth Assignment: This type of assignment limits the overriding royalty interest to resources located within a specific depth range, typically closer to the surface. The assignee is entitled to royalties only from the extraction activities within this shallow depth range. 2. Deep Depth Assignment: In contrast to the shallow depth assignment, this type restricts the overriding royalty interest to resources located at greater depths. The assignee's entitlement to royalties is limited to the mineral extraction occurring below the specified depth range. 3. Dual Depth Assignment: This assignment type provides a more comprehensive approach by allowing the assignee to claim overriding royalty interest from mineral resources within two distinct depth ranges. The agreement specifies both shallow and deep depth limits, enabling the assignee to receive royalties from extraction activities occurring within those boundaries. When entering into a Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth, it is essential to consider the specific geological characteristics of the Lima region. Evaluating the depth and quality of mineral resources in the area can greatly influence the terms and conditions of such an assignment. Legal professionals with expertise in mineral rights and property law should be consulted to ensure clarity and accuracy in drafting and executing the assignment agreement. In conclusion, the Lima, Arizona, Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal agreement that allows the transfer of mineral rights with specific restrictions based on the depth of the resources. The assignment types may vary, including shallow depth assignment, deep depth assignment, and dual depth assignment, each defining the extent of the assignee's entitlement to royalties.