Nassau New York 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: Nassau
• 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. Nassau, New York is a town located in Rensselaer County, within the state of New York. This town is well-known for its picturesque landscapes, historic charm, and vibrant community. With its proximity to Albany, the capital of New York State, Nassau offers residents and visitors a unique blend of rural beauty and urban convenience. Now, let's dive into the details of the Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form. This legal document pertains to the transfer of overriding royalty interest (ORRIS) from the working interest holder to another party. The document typically outlines the terms, conditions, and obligations associated with the assignment. There can be different types of Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form, depending on the specific circumstances and parties involved. Some possible variations include: 1. Individual Lease Assignment: This type of assignment focuses on the transfer of ORRIS from the working interest holder to a single individual. It is commonly used when a party wishes to sell or transfer their rights to receive a portion of the revenue generated from the oil, gas, or mineral production on a particular lease. 2. Corporate Assignment: In this case, the ORRIS is transferred from the working interest holder to a corporation or company. This type of assignment could occur, for example, when a business entity acquires multiple working interests and seeks to consolidate or reorganize their ownership structure. 3. Limited Warranty Assignment: This specific variation of the assignment document is designed to limit the liability of the working interest holder who is transferring the ORRIS. It typically includes a warranty clause that ensures the assignee receives the interest free from any undisclosed defects, liens, or encumbrances. The Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a comprehensive legal agreement that protects the rights and interests of both the assignor and assignee. It typically covers various aspects, including the description of the leased properties, terms of the assignment, consideration for the transfer, and additional provisions for the smooth transition of the ORRIS. Seeking professional legal advice and guidance is crucial when dealing with such assignments in Nassau, New York. Experienced attorneys familiar with local laws and regulations can help ensure that the assignment is properly executed, providing peace of mind and protection for all parties involved.

Nassau, New York is a town located in Rensselaer County, within the state of New York. This town is well-known for its picturesque landscapes, historic charm, and vibrant community. With its proximity to Albany, the capital of New York State, Nassau offers residents and visitors a unique blend of rural beauty and urban convenience. Now, let's dive into the details of the Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form. This legal document pertains to the transfer of overriding royalty interest (ORRIS) from the working interest holder to another party. The document typically outlines the terms, conditions, and obligations associated with the assignment. There can be different types of Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form, depending on the specific circumstances and parties involved. Some possible variations include: 1. Individual Lease Assignment: This type of assignment focuses on the transfer of ORRIS from the working interest holder to a single individual. It is commonly used when a party wishes to sell or transfer their rights to receive a portion of the revenue generated from the oil, gas, or mineral production on a particular lease. 2. Corporate Assignment: In this case, the ORRIS is transferred from the working interest holder to a corporation or company. This type of assignment could occur, for example, when a business entity acquires multiple working interests and seeks to consolidate or reorganize their ownership structure. 3. Limited Warranty Assignment: This specific variation of the assignment document is designed to limit the liability of the working interest holder who is transferring the ORRIS. It typically includes a warranty clause that ensures the assignee receives the interest free from any undisclosed defects, liens, or encumbrances. The Nassau New York Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a comprehensive legal agreement that protects the rights and interests of both the assignor and assignee. It typically covers various aspects, including the description of the leased properties, terms of the assignment, consideration for the transfer, and additional provisions for the smooth transition of the ORRIS. Seeking professional legal advice and guidance is crucial when dealing with such assignments in Nassau, New York. Experienced attorneys familiar with local laws and regulations can help ensure that the assignment is properly executed, providing peace of mind and protection for all parties involved.