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.
Queens New York Reservation of Overriding Royalty Interest is a legal concept that refers to the ownership of a specific type of royalty interest in the oil and gas industry. This term is commonly used in the context of mineral exploration and extraction, particularly in relation to properties in Queens, New York. The reservation of overriding royalty interest allows the interest holder to have a right to a portion of the revenue generated from the production of oil and gas, regardless of their ownership or mineral rights in the property. In other words, this interest is separate from the underlying mineral rights and may be held by someone who is not the owner of the property. There are several types of Queens New York Reservation of Overriding Royalty Interest, including: 1. Permanent Royalty Interest: This type of reservation is established for an indefinite period and continues to exist until certain conditions are met, such as the depletion of the oil and gas reserves. 2. Term Royalty Interest: In contrast to permanent royalty interest, this type of reservation is set for a specific period, typically based on a predetermined number of years or until certain conditions are fulfilled. 3. Fractional Royalty Interest: This reservation grants the interest holder a fractional portion, usually expressed as a percentage, of the revenue generated from the production of oil and gas. 4. Non-Participating Royalty Interest: In this case, the interest holder does not have a right to participate in the operation or decision-making process of the exploration or production activities. However, they are entitled to a share of the revenue generated. 5. Overriding Royalty Interest in Gross: This reservation entitles the interest holder to a specific portion of the total revenue produced, regardless of the costs involved in the exploration and production processes. It is essential to consult legal professionals and review the specific terms and conditions of any Queens New York Reservation of Overriding Royalty Interest to fully understand the rights, obligations, and restrictions associated with such reservations.Queens New York Reservation of Overriding Royalty Interest is a legal concept that refers to the ownership of a specific type of royalty interest in the oil and gas industry. This term is commonly used in the context of mineral exploration and extraction, particularly in relation to properties in Queens, New York. The reservation of overriding royalty interest allows the interest holder to have a right to a portion of the revenue generated from the production of oil and gas, regardless of their ownership or mineral rights in the property. In other words, this interest is separate from the underlying mineral rights and may be held by someone who is not the owner of the property. There are several types of Queens New York Reservation of Overriding Royalty Interest, including: 1. Permanent Royalty Interest: This type of reservation is established for an indefinite period and continues to exist until certain conditions are met, such as the depletion of the oil and gas reserves. 2. Term Royalty Interest: In contrast to permanent royalty interest, this type of reservation is set for a specific period, typically based on a predetermined number of years or until certain conditions are fulfilled. 3. Fractional Royalty Interest: This reservation grants the interest holder a fractional portion, usually expressed as a percentage, of the revenue generated from the production of oil and gas. 4. Non-Participating Royalty Interest: In this case, the interest holder does not have a right to participate in the operation or decision-making process of the exploration or production activities. However, they are entitled to a share of the revenue generated. 5. Overriding Royalty Interest in Gross: This reservation entitles the interest holder to a specific portion of the total revenue produced, regardless of the costs involved in the exploration and production processes. It is essential to consult legal professionals and review the specific terms and conditions of any Queens New York Reservation of Overriding Royalty Interest to fully understand the rights, obligations, and restrictions associated with such reservations.
