San Antonio, Texas is a vibrant city known for its rich history, diverse culture, and booming economy. Situated in south-central Texas, San Antonio offers a wide range of attractions, including historical landmarks, renowned cuisine, and lively entertainment. An Assignment of Overriding Royalty Interest (No Proportionate Reduction), often abbreviated as LORI, is a legal document that grants the exclusive right to receive a portion of the revenue generated from the production of oil and gas in San Antonio, Texas. Unlike a traditional lease agreement, this type of assignment does not reduce the proportionate share of royalties received by the assignor. There are several types of San Antonio, Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction) agreements that investors and landowners can engage in: 1. Individual Assignment: This is a direct assignment of overriding royalty interest between an assignor, who may be an individual or a company, and an assignee. It outlines the specific terms, conditions, and percentage of royalty interest being transferred. 2. Partnership Assignment: In some cases, multiple parties may come together in a partnership to collectively invest in San Antonio's oil and gas production. A partnership assignment allows for the pooling of resources and the distribution of proceeds according to the agreed-upon terms. 3. Corporate Assignment: When a corporate entity is involved in the acquisition or transfer of overriding royalty interest, a corporate assignment is used. This type of assignment outlines the roles and responsibilities of both the assignor and assignee, ensuring a smooth transfer of rights. Keywords: San Antonio, Texas, Assignment of Overriding Royalty Interest, LORI, oil and gas production, investor, landowner, individual assignment, partnership assignment, corporate assignment.
San Antonio Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction)
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