This provision provides for the assignor to except from this assignment and reserve an overriding royalty interest of all oil, gas, casinghead gas, and other minerals that may be produced from the lands under the terms of the Leases that are the subject of this assignment.
Lima Arizona Reservation of Overriding Royalty Interest is a legal concept related to land rights and mineral interests. It is specifically associated with land located within the Pima County, Arizona region. This reservation grants royalty interests to certain entities or individuals, which typically override the existing royalties or mineral interests held by other parties. The Lima Arizona Reservation of Overriding Royalty Interest serves as a legal mechanism to allocate and protect the rights of various stakeholders in relation to oil, gas, or mineral resources present on the affected land. The reservation can be created in different ways, such as through contractual agreements, lease agreements, or even by force of law. There are several types of Lima Arizona Reservation of Overriding Royalty Interest, including: 1. Government Reservation: The government or state authority can reserve an overriding royalty interest in lands that it owns or manages. This is done to ensure a share in the revenue generated from the extraction or production of minerals. 2. landowner reservation: The landowners themselves may reserve an overriding royalty interest when leasing their property to exploration or production companies. This grants them a percentage of the royalties earned from the minerals extracted, irrespective of the primary mineral rights holder. 3. Prior to Royalty Holder reservation: In cases where there is an existing overriding royalty interest on a property, the holder of the prior royalty interest may reserve a further overriding royalty interest, thereby creating a layered system of royalties. 4. Non-participating royalty reservation: In situations where a portion of the mineral rights remains unleashed, a non-participating royalty reservation can be created. It grants a share in the royalties generated from the leased portion to the non-participating owner. The Lima Arizona Reservation of Overriding Royalty Interest is essential to protect the interests of the various parties involved, ensuring fair distribution of revenue from the extraction of valuable resources. It provides legal clarity and prevents disputes by outlining the rights and obligations of each stakeholder. This concept forms the basis of effective resource management and development in Pima County, Arizona.Lima Arizona Reservation of Overriding Royalty Interest is a legal concept related to land rights and mineral interests. It is specifically associated with land located within the Pima County, Arizona region. This reservation grants royalty interests to certain entities or individuals, which typically override the existing royalties or mineral interests held by other parties. The Lima Arizona Reservation of Overriding Royalty Interest serves as a legal mechanism to allocate and protect the rights of various stakeholders in relation to oil, gas, or mineral resources present on the affected land. The reservation can be created in different ways, such as through contractual agreements, lease agreements, or even by force of law. There are several types of Lima Arizona Reservation of Overriding Royalty Interest, including: 1. Government Reservation: The government or state authority can reserve an overriding royalty interest in lands that it owns or manages. This is done to ensure a share in the revenue generated from the extraction or production of minerals. 2. landowner reservation: The landowners themselves may reserve an overriding royalty interest when leasing their property to exploration or production companies. This grants them a percentage of the royalties earned from the minerals extracted, irrespective of the primary mineral rights holder. 3. Prior to Royalty Holder reservation: In cases where there is an existing overriding royalty interest on a property, the holder of the prior royalty interest may reserve a further overriding royalty interest, thereby creating a layered system of royalties. 4. Non-participating royalty reservation: In situations where a portion of the mineral rights remains unleashed, a non-participating royalty reservation can be created. It grants a share in the royalties generated from the leased portion to the non-participating owner. The Lima Arizona Reservation of Overriding Royalty Interest is essential to protect the interests of the various parties involved, ensuring fair distribution of revenue from the extraction of valuable resources. It provides legal clarity and prevents disputes by outlining the rights and obligations of each stakeholder. This concept forms the basis of effective resource management and development in Pima County, Arizona.
