Hennepin Minnesota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Hennepin
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. Description: Hennepin Minnesota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that grants the right to receive a portion of the oil, gas, or mineral proceeds from a specific lease in Hennepin County, Minnesota. This type of assignment is unique as it pertains to non-producing properties. It also reserves the right to pool the leased area with adjacent parcels for development purposes. In Hennepin County, there may be various types of Assignment of Overriding Royalty Interest, each tailored to meet specific criteria. Some distinct categories include: 1. Non-Producing Assignment: This kind of assignment applies to leases that currently do not yield oil, gas, or minerals. It outlines the terms and conditions for receiving royalties once production commences. 2. Single Lease Assignment: This specific assignment pertains to a singular lease within Hennepin County. It identifies the leaseholder, the assigned party, and the assigned royalty interest percentage. The document typically stipulates the obligations and rights of all parties involved. 3. Reserves Right to Pool Assignment: This assignment type reserves the right to combine or pool the leased area with adjacent parcels in future development activities. It gives the assignee the option to unite multiple leases for more efficient operations, potentially increasing overall production and value. The Hennepin Minnesota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) document is crucial for both the assignor and assignee as it defines their respective rights, obligations, and financial interests. It ensures transparency, clarity, and protection of both parties' rights in the event of any potential dispute.

Description: Hennepin Minnesota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that grants the right to receive a portion of the oil, gas, or mineral proceeds from a specific lease in Hennepin County, Minnesota. This type of assignment is unique as it pertains to non-producing properties. It also reserves the right to pool the leased area with adjacent parcels for development purposes. In Hennepin County, there may be various types of Assignment of Overriding Royalty Interest, each tailored to meet specific criteria. Some distinct categories include: 1. Non-Producing Assignment: This kind of assignment applies to leases that currently do not yield oil, gas, or minerals. It outlines the terms and conditions for receiving royalties once production commences. 2. Single Lease Assignment: This specific assignment pertains to a singular lease within Hennepin County. It identifies the leaseholder, the assigned party, and the assigned royalty interest percentage. The document typically stipulates the obligations and rights of all parties involved. 3. Reserves Right to Pool Assignment: This assignment type reserves the right to combine or pool the leased area with adjacent parcels in future development activities. It gives the assignee the option to unite multiple leases for more efficient operations, potentially increasing overall production and value. The Hennepin Minnesota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) document is crucial for both the assignor and assignee as it defines their respective rights, obligations, and financial interests. It ensures transparency, clarity, and protection of both parties' rights in the event of any potential dispute.