This form is used when Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ).
A Florida Assignment of Overriding Royalty Interest in Multiple Assignors refers to a legal document in which multiple individuals or entities transfer their overriding royalty interests in a particular property or resource to another party, typically an oil or gas company. This assignment allows the assignee to receive a percentage of the revenue generated from the production and sale of natural resources on the property, known as overriding royalty interests. In Florida, there are various types of Assignment of Overriding Royalty Interest in Multiple Assignors, depending on factors such as the nature of the property and the specific terms of the assignment. Some notable types include: 1. Assignment of Overriding Royalty Interest in Oil and Gas Wells: This type of assignment involves multiple assignors transferring their overriding royalty interests in oil and gas wells located in Florida. It outlines the percentage of royalty interests being assigned, the property details, and any specific terms or conditions. 2. Assignment of Overriding Royalty Interest in Mining Rights: This assignment pertains to the transfer of overriding royalty interests related to mining activities in Florida. It may involve assignors transferring their interests in minerals like limestone, phosphate, or other valuable resources found in the state. 3. Assignment of Overriding Royalty Interest in Real Estate Developments: This type of assignment involves multiple assignors transferring their overriding royalty interests in real estate developments, which could include residential or commercial properties in Florida. The assignment may specify the percentage of royalty interests and include additional details regarding the development project. 4. Assignment of Overriding Royalty Interest in Water Rights: This assignment focuses on overriding royalty interests related to water rights in Florida. It could involve assignors transferring their interests in water sources, such as lakes, rivers, or groundwater, to the assignee who wishes to utilize or manage these resources. In each type of Assignment of Overriding Royalty Interest in Multiple Assignors, it is crucial for the document to clearly outline the assignors and assignees, the property details, the percentage of royalty interests being transferred, and any specific terms or conditions agreed upon by the parties involved. The document must comply with Florida state laws and regulations governing assignments of overriding royalty interests. Overall, a Florida Assignment of Overriding Royalty Interest in Multiple Assignors facilitates the transfer of royalty interests from multiple parties to a single assignee, enabling them to participate in the revenue generated from the production and exploitation of valuable resources in the state.
