Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Kings
• Control #: US-OG-939
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest with no proportionate reduction. Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal agreement pertaining to the transfer of overriding royalty interests in oil and gas leases located in Kings County, New York. This contract allows the assignor to convey their overriding royalty interest in the leases to the assignee without any reduction or proportionate sharing. The Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is commonly used in the oil and gas industry to enable the assignee to benefit from the production or revenue generated from the leased property without any reduction in their royalty interest. There might be different types of Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) agreements, which can vary depending on specific terms and conditions. These types may include: 1. Specific Lease Assignment: This type of assignment is limited to a specific lease or leases held in Kings County, New York. It defines the overriding royalty interest being transferred and includes details about the assignor, assignee, and the leased property. 2. Royalty Percentage Assignment: In this type, the assignor transfers a certain percentage of their overriding royalty interest to the assignee, without any proportionate reduction. The agreement specifies the exact percentage being assigned, enabling the assignee to receive a portion of royalty payments corresponding to the assigned interest. 3. Assignment with Limited Timeframe: This type of assignment may have a specific timeframe during which the assignee's rights to the overriding royalty interest are valid. After this timeframe expires, the assignor retains their full interest in the lease, and the assignee's rights terminate. This type of arrangement is typically used in temporary or short-term agreements. In summary, the Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal instrument that facilitates the transfer of overriding royalty interests in oil and gas leases in Kings County, New York. It allows the assignee to receive royalty payments without any reduction or proportionate sharing. The different types of assignments can include specific lease assignments, royalty percentage assignments, or assignments with limited timeframes.

Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal agreement pertaining to the transfer of overriding royalty interests in oil and gas leases located in Kings County, New York. This contract allows the assignor to convey their overriding royalty interest in the leases to the assignee without any reduction or proportionate sharing. The Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is commonly used in the oil and gas industry to enable the assignee to benefit from the production or revenue generated from the leased property without any reduction in their royalty interest. There might be different types of Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) agreements, which can vary depending on specific terms and conditions. These types may include: 1. Specific Lease Assignment: This type of assignment is limited to a specific lease or leases held in Kings County, New York. It defines the overriding royalty interest being transferred and includes details about the assignor, assignee, and the leased property. 2. Royalty Percentage Assignment: In this type, the assignor transfers a certain percentage of their overriding royalty interest to the assignee, without any proportionate reduction. The agreement specifies the exact percentage being assigned, enabling the assignee to receive a portion of royalty payments corresponding to the assigned interest. 3. Assignment with Limited Timeframe: This type of assignment may have a specific timeframe during which the assignee's rights to the overriding royalty interest are valid. After this timeframe expires, the assignor retains their full interest in the lease, and the assignee's rights terminate. This type of arrangement is typically used in temporary or short-term agreements. In summary, the Kings New York Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal instrument that facilitates the transfer of overriding royalty interests in oil and gas leases in Kings County, New York. It allows the assignee to receive royalty payments without any reduction or proportionate sharing. The different types of assignments can include specific lease assignments, royalty percentage assignments, or assignments with limited timeframes.