A document routine always goes along with any legal activity you make. Creating a company, applying or accepting a job offer, transferring property, and lots of other life scenarios require you prepare formal paperwork that differs throughout the country. That's why having it all collected in one place is so beneficial.

US Legal Forms is the most extensive online library of up-to-date federal and state-specific legal forms. Here, you can easily locate and get a document for any individual or business purpose utilized in your region, including the Tarrant Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest.

Locating templates on the platform is amazingly simple. If you already have a subscription to our library, log in to your account, find the sample through the search bar, and click Download to save it on your device. Afterward, the Tarrant Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest will be accessible for further use in the My Forms tab of your profile.

If you are using US Legal Forms for the first time, follow this quick guide to obtain the Tarrant Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest:

Ensure you have opened the proper page with your regional form.
Use the Preview mode (if available) and browse through the template.
Read the description (if any) to ensure the form meets your requirements.
Look for another document using the search option in case the sample doesn't fit you.
Click Buy Now when you locate the required template.
Decide on the suitable subscription plan, then log in or register for an account.
Select the preferred payment method (with credit card or PayPal) to proceed.
Choose file format and download the Tarrant Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest on your device.
Use it as needed: print it or fill it out electronically, sign it, and file where requested.

This is the easiest and most trustworthy way to obtain legal documents. All the samples provided by our library are professionally drafted and checked for correspondence to local laws and regulations. Prepare your paperwork and manage your legal affairs effectively with the US Legal Forms!

Form Rating

4.76

Satisfied(319)

Form popularity

FAQ

Royalty Interest an ownership in production that bears no cost in production. Royalty interest owners receive their share of production revenue before the working interest owners. Working Interest an ownership in a well that bears 100% of the cost of production.

What is an NPRI? A non-participating royalty interest owner has a right to all or a portion of the royalty from gross production, but does not have the right to execute a lease, receive a bonus or any delay rentals.

A royalty interest is an interest retained in the output of a property when the owner of mineral rights enters into a lease agreement. A royalty interest entitles the mineral rights owner to receive a portion of the minerals produced or a portion of the gross revenue from sold production.

Royalty interest in the oil and gas industry refers to ownership of a portion of a resource or the revenue it produces. A company or person that owns a royalty interest does not bear any operational costs needed to produce the resource, yet they still own a portion of the resource or revenue it produces.

Overriding Royalty Interest (ORRI) A royalty in excess of the royalty provided in the Oil & Gas Lease. Usually, an override is added during an intervening assignment. ORRIs are created out of the working interest in a property and do not affect mineral owners.

Participating Royalty Interest (NPRI) is an interest in oil and gas production which is created from the mineral estate. Like the plain royalty interest it is expensefree, bearing no operational costs of production.

The formula to calculate NPRI without proportionate share reduction is LRR RI = NPRI. As an example, reducing your revenue interest from 25% LRR results in 1/16 NPRI, leaving 75% NRI for working interest owners.

An overriding royalty interest (ORRI) is similar to a royalty interest in that it is also a portion of the proceeds from the sale of production. However, it is not retained under the terms of the oil and gas lease. An ORRI is granted, assigned and created under the terms of a separate document.

Overriding Royalty Interest (ORRI) a percentage share of production, or the value derived from production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner.

A mineral interest owner also possesses the right to receive lease bonuses, delay rental payments, shut-in payments and royalties. A royalty interest, on the other hand, is the property interest created that entitles the owner to receive a share of the production.

Interesting Questions

More info

Notice is hereby given that Tarrant County disclaims its interest in the mineral rights or royalties on the property, except to the extent of any mineral lease or other right in the property. The county disclaims all other interests, including, without limitation, in mineral deposits. The county expressly acknowledges that oil and gas or other mineral extraction activities are carried on within the boundaries of this County by private persons, corporations, cooperatives or other entities and are subject to all environmental laws and permit conditions. As noted, those who hold mineral interests on the property may be subject to the “Stop and Frisk” or “stop and search” statutes of the City of Houston or the “reasonable search” statute of the City of Longview as amended.

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Tarrant Texas Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest

Description

Related forms

Viewed forms

How to fill out Tarrant Texas Disclaimer And Quitclaim Of Interest In Mineral / Royalty Interest?

Show more info

Form Rating

Form popularity

FAQ

What is the difference between working interest and royalty interest?

What is a non-participating interest?

What is a mineral royalty interest?

What is royalty interest?

What does Orri mean in oil and gas?

What is a nonparticipating royalty interest?

How do you calculate non-participating royalty interest?

What is the difference between overriding royalty interest and royalty interest?

What does overriding royalty interest mean?

Is mineral interest the same as royalty interest?

Interesting Questions

What is a Tarrant Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest?

Why would someone use a Tarrant Disclaimer and Quitclaim of Interest?

What does 'Quitclaim' mean in this context?

What is a 'Mineral Interest'?

What is a 'Royalty Interest'?

Can a Tarrant Disclaimer and Quitclaim of Interest be used for other types of properties?

More info

Trusted and secure by over 3 million people of the world’s leading companies