This form is used when Assignee has recovered certain costs out of Assignee's share of the proceeds of production of oil and gas from producing wells on the Lease, and Assignee's interest in the Lease is reduced. Assignor will be vested with title to an interest in the Lease, the "Reversionary Interest".
Dallas Texas Notice of Payout by Party Entitled to Reversionary Interest
Category:
State:
Multi-State
County:
Dallas
Control #:
US-OG-354
Format:
Word;
Rich Text
Instant download
Description
How to fill out Dallas Texas Notice Of Payout By Party Entitled To Reversionary Interest?
If you need to find a reliable legal paperwork provider to find the Dallas Notice of Payout by Party Entitled to Reversionary Interest, look no further than US Legal Forms. Whether you need to launch your LLC business or take care of your belongings distribution, we got you covered. You don't need to be well-versed in in law to find and download the appropriate template.
- You can search from over 85,000 forms categorized by state/county and case.
- The self-explanatory interface, number of learning materials, and dedicated support team make it easy to get and complete different documents.
- US Legal Forms is a trusted service providing legal forms to millions of customers since 1997.
You can simply type to look for or browse Dallas Notice of Payout by Party Entitled to Reversionary Interest, either by a keyword or by the state/county the form is created for. After locating required template, you can log in and download it or save it in the My Forms tab.
Don't have an account? It's easy to start! Simply locate the Dallas Notice of Payout by Party Entitled to Reversionary Interest template and check the form's preview and short introductory information (if available). If you're confident about the template’s legalese, go ahead and click Buy now. Create an account and select a subscription plan. The template will be immediately available for download as soon as the payment is completed. Now you can complete the form.
Handling your law-related affairs doesn’t have to be expensive or time-consuming. US Legal Forms is here to demonstrate it. Our rich collection of legal forms makes these tasks less expensive and more reasonably priced. Create your first business, arrange your advance care planning, create a real estate agreement, or execute the Dallas Notice of Payout by Party Entitled to Reversionary Interest - all from the comfort of your sofa.
Sign up for US Legal Forms now!
Form popularity
FAQ
Reversionary Interests These are future interests held by the grantor or devisor of an interest in real property. A grantor is simply the name we give to someone who conveys an interest during his or her life, while a devisor does it through a will after death.
A reversionary interest can be either a vested interest or contingent interest.
In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and on Judy's death the cottage is to revert back to Bob.
In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and on Judy's death the cottage is to revert back to Bob.
Remainder, in Anglo-American law, a future interest held by one person in the property of another, which, upon the happening of a certain event, will become his own. The holder of this interest is known in legal terms as a remainderman.
Note: The person entitled in reversion may be entitled to sell or otherwise dispose of the interest in reversion before the death of the life tenant, in which case the purchaser would be entitled to the land in reversion.
The lessor typically retains a reversion interest in the property which will mature after the lease expires. A common example of this transaction is the leasing of an apartment to a tenant for a one-year period.
A landowner who is concerned about the future use of his land can donate or sell the land on a conditional rather than absolute basis. A reversionary interest is created by a deed that reserves to the grantor a future ownership right upon the occurrence of some condition.
Reversionary interest is a condition in a trust where the original owner of a property can claim it back after transferring it to a beneficiary. It is also known as reversion to settlor or revertor to settlor.
Reversionary interest in the context of real property or wills and estates means a reservation created in a real property conveyance that the property will revert back to the original owner upon the happening of a certain event.
Interesting Questions
More info
Assign its lease to a new party or sublet all or part of its premises. The Reversionary Interest may be.Negotiate for maximum reversion of interests following Payout. Fill out the form to access a sample of Practical Guidance. The Arizona property passed, through several parties, to Virginia. The incorporeal rights that are appurtenant to the property. Rights he acquired in trust for six parties who each owned an undivided one- sixth interest in the property. Sufficient cash flow for rent payment.
