Montgomery Maryland 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: Montgomery
• 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. Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form: A Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document pertaining to the transfer of the overriding royalty interest from one party to another. This assignment is specifically designed for properties located in Montgomery, Maryland. The overriding royalty interest is a type of interest that grants the holder a percentage of the revenue generated from the production of minerals or hydrocarbons. In this case, the interest is being assigned out of the working interest, which refers to the ownership interest in the property that allows for the exploration, development, and production activities. This long-form assignment is used when there are multiple leases involved, meaning that the property is subject to different agreements with different terms and conditions. It is crucial to ensure that each lease is properly accounted for in the assignment to avoid any ambiguity or disputes in the future. Furthermore, the assignment includes a limited warranty, which means that the assignor (current holder of the overriding royalty interest) warrants only that they have not created or encumbered the interest being assigned. This form of warranty provides a level of protection to the assignee (new holder) but does not guarantee the validity of the interest or its title. Different types of Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may include variations based on the specific conditions of the leases involved, such as different percentages of overriding royalty interest being assigned, particular lease provisions, or additional warranties provided by the assignor. However, the core purpose of the document remains consistent. In summary, the Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a comprehensive legal document that facilitates the transfer of overriding royalty interest from one party to another in Montgomery, Maryland. This assignment is designed for properties subject to multiple leases and includes a limited warranty to provide some protection to the assignee.

Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form: A Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document pertaining to the transfer of the overriding royalty interest from one party to another. This assignment is specifically designed for properties located in Montgomery, Maryland. The overriding royalty interest is a type of interest that grants the holder a percentage of the revenue generated from the production of minerals or hydrocarbons. In this case, the interest is being assigned out of the working interest, which refers to the ownership interest in the property that allows for the exploration, development, and production activities. This long-form assignment is used when there are multiple leases involved, meaning that the property is subject to different agreements with different terms and conditions. It is crucial to ensure that each lease is properly accounted for in the assignment to avoid any ambiguity or disputes in the future. Furthermore, the assignment includes a limited warranty, which means that the assignor (current holder of the overriding royalty interest) warrants only that they have not created or encumbered the interest being assigned. This form of warranty provides a level of protection to the assignee (new holder) but does not guarantee the validity of the interest or its title. Different types of Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may include variations based on the specific conditions of the leases involved, such as different percentages of overriding royalty interest being assigned, particular lease provisions, or additional warranties provided by the assignor. However, the core purpose of the document remains consistent. In summary, the Montgomery Maryland Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a comprehensive legal document that facilitates the transfer of overriding royalty interest from one party to another in Montgomery, Maryland. This assignment is designed for properties subject to multiple leases and includes a limited warranty to provide some protection to the assignee.