Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction)

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

Description

This form is an assignment of overriding royalty interest with no proportionate reduction. Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that pertains to the transfer of certain mineral rights in Travis County, Texas. This assignment allows an individual or entity to assign their overriding royalty interest (ORRIS) to another party without any proportionate reduction in the assigned interest. An overriding royalty interest refers to an interest in minerals produced and sold from a specific leased property. This interest is typically separate from the working interest, which involves the actual operation and costs of extracting the minerals. The ORRIS holder may receive a percentage of the revenue generated from the sale of minerals, without being responsible for operational expenses. In Travis County, Texas, there may be different types or variations of the Assignment of Overriding Royalty Interest (No Proportionate Reduction), depending on specific circumstances and contractual agreements. Some possible types include: 1. Standard Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction): This is a basic form of the assignment document, where the assignor transfers their ORRIS to the assignee without any reduction in the assigned interest. 2. Travis Texas Assignment of Overriding Royalty Interest with Limitations: In certain cases, the assignment may come with certain limitations or restrictions. These limitations may involve a cap on the maximum amount payable to the assignee or specific conditions under which the ORRIS can be collected. 3. Travis Texas Partial Assignment of Overriding Royalty Interest (No Proportionate Reduction): This type of assignment involves the transfer of only a portion of the assignor's ORRIS to the assignee. It allows the assignor to retain a portion of the overriding royalty interest while benefiting from the assigned portion. 4. Travis Texas Assignment of Overriding Royalty Interest from Multiple Assignors: In some scenarios, multiple assignors may collectively transfer their overriding royalty interests to a single assignee. This type of assignment consolidates the Orris from multiple parties into one. Overall, the Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction) serves as a legally binding document that facilitates the transfer of mineral rights in Travis County, Texas. It ensures a smooth and transparent process for assigning overriding royalty interests without any proportional reduction in the transferred interest.

Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that pertains to the transfer of certain mineral rights in Travis County, Texas. This assignment allows an individual or entity to assign their overriding royalty interest (ORRIS) to another party without any proportionate reduction in the assigned interest. An overriding royalty interest refers to an interest in minerals produced and sold from a specific leased property. This interest is typically separate from the working interest, which involves the actual operation and costs of extracting the minerals. The ORRIS holder may receive a percentage of the revenue generated from the sale of minerals, without being responsible for operational expenses. In Travis County, Texas, there may be different types or variations of the Assignment of Overriding Royalty Interest (No Proportionate Reduction), depending on specific circumstances and contractual agreements. Some possible types include: 1. Standard Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction): This is a basic form of the assignment document, where the assignor transfers their ORRIS to the assignee without any reduction in the assigned interest. 2. Travis Texas Assignment of Overriding Royalty Interest with Limitations: In certain cases, the assignment may come with certain limitations or restrictions. These limitations may involve a cap on the maximum amount payable to the assignee or specific conditions under which the ORRIS can be collected. 3. Travis Texas Partial Assignment of Overriding Royalty Interest (No Proportionate Reduction): This type of assignment involves the transfer of only a portion of the assignor's ORRIS to the assignee. It allows the assignor to retain a portion of the overriding royalty interest while benefiting from the assigned portion. 4. Travis Texas Assignment of Overriding Royalty Interest from Multiple Assignors: In some scenarios, multiple assignors may collectively transfer their overriding royalty interests to a single assignee. This type of assignment consolidates the Orris from multiple parties into one. Overall, the Travis Texas Assignment of Overriding Royalty Interest (No Proportionate Reduction) serves as a legally binding document that facilitates the transfer of mineral rights in Travis County, Texas. It ensures a smooth and transparent process for assigning overriding royalty interests without any proportional reduction in the transferred interest.