The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
The Kansas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document that outlines the transfer of ownership of a portion of the royalties derived from an oil or gas lease in Kansas. This assignment allows the overriding royalty interest owner to assign their interest to another party without any reduction or decrease in proportionate share. Keywords: Kansas, Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, oil lease, gas lease, royalties, transfer of ownership. There are different types of Kansas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, based on the specific circumstances and parties involved. 1. Individual Assignment: This type of assignment occurs when an individual overriding royalty interest owner transfers their interest in the royalties to another individual or entity. 2. Corporate Assignment: In this scenario, a corporation or company that holds an overriding royalty interest assigns its interest to another corporation or entity. 3. Partial Assignment: A partial assignment is when only a portion of the overriding royalty interest is transferred to another party, while the assignor retains ownership of the remaining interest. 4. Complete Assignment: A complete assignment refers to the transfer of the entire overriding royalty interest from the assignor to the assignee, with no portion retained by the original owner. 5. Temporary Assignment: Sometimes, overriding royalty interest owners may assign their interest for a limited period, allowing the assignee to receive the royalties for a specified duration, after which the ownership reverts to the original owner. 6. Permanent Assignment: In contrast to a temporary assignment, a permanent assignment involves the transfer of overriding royalty interest for an indefinite or permanent period, meaning the assignee becomes the permanent owner of the interest. Overall, the Kansas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, serves as a legal mechanism to transfer ownership of royalty interests involving oil or gas leases in Kansas, ensuring that the assignee receives the royalties without any reduction in proportionate share.
