Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty - Long Form

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Collin
• Control #: US-OG-518
• 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, convertible to a working interest. The Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document oftentimes used in the oil and gas industry. This agreement allows an individual or entity (assignor) to transfer their overriding royalty interest to another party (assignee), while maintaining limited warranty protection. Key elements of this document include: 1. Assignment of Overriding Royalty Interest: This section outlines the transfer of the assignor's overriding royalty interest to the assignee. The assignor is essentially granting the assignee the right to share in the profits generated from the working interest in a specific oil or gas lease. 2. Working Interest with Multiple Leases: This section identifies the specific lands and leases from which the overriding royalty interest is being assigned. It may include a legal description of the lands, the lease numbers, or any other relevant information for proper identification. 3. Limited Warranty: The limited warranty section provides assurances from the assignor to the assignee that they have a valid and existing overriding royalty interest in the leased lands. It typically states that the assignor holds no liability for any existing or future encumbrances or claims against the assigned overriding royalty interest, beyond certain specified exceptions. Different variations or types of Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may exist based on specific conditions or requirements. These could include: 1. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Standard): A typical agreement without any additional customization or specific conditions. 2. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Conditional): This version may include additional conditions or requirements based on the unique circumstances of the assignor, assignee, or the leased lands. 3. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Extension or Amendment): This type of agreement is used when parties need to extend the duration or make amendments to an existing Collin Texas assignment agreement. It is important to consult with legal professionals experienced in oil and gas law to ensure the specific requirements of Collin Texas law are met and to tailor the agreement to the specific needs of the parties involved.

The Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document oftentimes used in the oil and gas industry. This agreement allows an individual or entity (assignor) to transfer their overriding royalty interest to another party (assignee), while maintaining limited warranty protection. Key elements of this document include: 1. Assignment of Overriding Royalty Interest: This section outlines the transfer of the assignor's overriding royalty interest to the assignee. The assignor is essentially granting the assignee the right to share in the profits generated from the working interest in a specific oil or gas lease. 2. Working Interest with Multiple Leases: This section identifies the specific lands and leases from which the overriding royalty interest is being assigned. It may include a legal description of the lands, the lease numbers, or any other relevant information for proper identification. 3. Limited Warranty: The limited warranty section provides assurances from the assignor to the assignee that they have a valid and existing overriding royalty interest in the leased lands. It typically states that the assignor holds no liability for any existing or future encumbrances or claims against the assigned overriding royalty interest, beyond certain specified exceptions. Different variations or types of Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may exist based on specific conditions or requirements. These could include: 1. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Standard): A typical agreement without any additional customization or specific conditions. 2. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Conditional): This version may include additional conditions or requirements based on the unique circumstances of the assignor, assignee, or the leased lands. 3. Collin Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form (Extension or Amendment): This type of agreement is used when parties need to extend the duration or make amendments to an existing Collin Texas assignment agreement. It is important to consult with legal professionals experienced in oil and gas law to ensure the specific requirements of Collin Texas law are met and to tailor the agreement to the specific needs of the parties involved.