Wake North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that pertains to the transfer of royalty interest rights in the oil, gas, and mineral resources of a specific land parcel in Wake, North Carolina. This assignment agreement outlines the conditions under which the overriding royalty interest is transferred from the assignor to the assignee. Keywords: Wake North Carolina, Assignment of Overriding Royalty Interest, Non-Producing, Single Lease, Reserves Right to Pool. In Wake County, North Carolina, the Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is applicable to various types of transactions and contractual agreements related to the transfer of royalty interests. Some of these types include: 1. Non-Producing Royalty Interest: This type of assignment refers to the transfer of royalty interest rights for a specific land parcel in Wake, North Carolina that is currently not producing oil, gas, or minerals. The assignee assumes the right to receive future royalty payments once production begins. 2. Single Lease Royalty Interest: This specific form of assignment involves the transfer of royalty interest rights from the assignor to the assignee for a single lease agreement in Wake County, North Carolina. It specifies the terms and conditions under which the assignee will receive royalty payments. 3. Reserves Right to Pool Royalty Interest: This type of assignment reserves the right for the assignor to pool their royalty interest with other landowners within a defined area in Wake, North Carolina. This pooling agreement allows for the consolidated development and extraction of oil, gas, or minerals from multiple parcels and ensures equitable distribution of royalties among the participating parties. The Wake North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) document includes important details such as the legal description of the land parcel, the percentage of overriding royalty interest being assigned, any specific terms and conditions agreed upon, and the rights and obligations of both the assignor and assignee. It is crucial for all parties involved in such transactions to seek legal advice and thoroughly understand the implications of this assignment agreement.
Wake North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)
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