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".
Travis Texas Notice of Payout by Party Entitled to Diversionary Interest is a legal document that notifies individuals or parties of an impending payout related to diversionary interest. Diversionary interest refers to the ownership interest that reverts to the original owner or their designated beneficiaries after a specific event or condition occurs. This notice is typically sent to individuals who hold diversionary interest in a property, such as land, real estate, or mineral rights, in Travis County, Texas. It serves as a formal communication to inform these parties about the forthcoming payout they are entitled to receive. The Travis Texas Notice of Payout by Party Entitled to Diversionary Interest includes essential information to ensure transparency and accuracy. It states the names of the parties involved, including the original owner, the current owner, and the party entitled to diversionary interest. Additionally, the notice specifies the property or asset in question and outlines the conditions that triggered the diversionary interest payout. Different types of Travis Texas Notice of Payout by Party Entitled to Diversionary Interest may vary based on the specific context and circumstances of the diversionary interest. For instance, some common variations include: 1. Mineral Rights Diversionary Interest: This notice is sent to individuals or parties with diversionary interest in mineral rights associated with properties in Travis County, Texas. It explains the conditions under which the diversionary interest has been triggered, such as the expiration of a lease or the termination of a mining agreement. 2. Real Estate Diversionary Interest: This type of notice pertains to individuals or parties with diversionary interest in real estate properties located in Travis County, Texas. It may stem from conditions like the termination of a lease agreement or the sale of the property triggering the diversionary interest. 3. Easement Diversionary Interest: In cases where properties in Travis County, Texas, have easements granted to third parties, the notice of payout by party entitled to diversionary interest might involve an easement diversionary interest. It informs the parties entitled to the diversionary interest about the termination of the easement or any other condition that triggered the payout. In conclusion, the Travis Texas Notice of Payout by Party Entitled to Diversionary Interest is a crucial legal document that serves to inform individuals or parties about their entitlement to receive a payout from their diversionary interest. Its variations depend on the specific context of the diversionary interest, which may include mineral rights, real estate, or easements in Travis County, Texas.Travis Texas Notice of Payout by Party Entitled to Diversionary Interest is a legal document that notifies individuals or parties of an impending payout related to diversionary interest. Diversionary interest refers to the ownership interest that reverts to the original owner or their designated beneficiaries after a specific event or condition occurs. This notice is typically sent to individuals who hold diversionary interest in a property, such as land, real estate, or mineral rights, in Travis County, Texas. It serves as a formal communication to inform these parties about the forthcoming payout they are entitled to receive. The Travis Texas Notice of Payout by Party Entitled to Diversionary Interest includes essential information to ensure transparency and accuracy. It states the names of the parties involved, including the original owner, the current owner, and the party entitled to diversionary interest. Additionally, the notice specifies the property or asset in question and outlines the conditions that triggered the diversionary interest payout. Different types of Travis Texas Notice of Payout by Party Entitled to Diversionary Interest may vary based on the specific context and circumstances of the diversionary interest. For instance, some common variations include: 1. Mineral Rights Diversionary Interest: This notice is sent to individuals or parties with diversionary interest in mineral rights associated with properties in Travis County, Texas. It explains the conditions under which the diversionary interest has been triggered, such as the expiration of a lease or the termination of a mining agreement. 2. Real Estate Diversionary Interest: This type of notice pertains to individuals or parties with diversionary interest in real estate properties located in Travis County, Texas. It may stem from conditions like the termination of a lease agreement or the sale of the property triggering the diversionary interest. 3. Easement Diversionary Interest: In cases where properties in Travis County, Texas, have easements granted to third parties, the notice of payout by party entitled to diversionary interest might involve an easement diversionary interest. It informs the parties entitled to the diversionary interest about the termination of the easement or any other condition that triggered the payout. In conclusion, the Travis Texas Notice of Payout by Party Entitled to Diversionary Interest is a crucial legal document that serves to inform individuals or parties about their entitlement to receive a payout from their diversionary interest. Its variations depend on the specific context of the diversionary interest, which may include mineral rights, real estate, or easements in Travis County, Texas.
