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 ).
Kansas Assignment of Overriding Royalty Interest in Multiple Assignors is a legal document that pertains to the transfer of ownership rights in an oil and gas lease. This type of assignment involves multiple assignors, meaning that there are multiple parties who are transferring their interests in the overriding royalty. Keywords: Kansas, assignment, overriding royalty interest, multiple assignors, oil and gas lease, transfer, ownership rights. There are various types of Kansas Assignment of Overriding Royalty Interest in Multiple Assignors, including: 1. Absolute Assignment: This type of assignment involves the complete transfer of overriding royalty interests by multiple assignors. The assignors relinquish all their rights, title, and interests to the assignee, who then becomes the new owner of the overriding royalty interest. 2. Partial Assignment: In this type of assignment, multiple assignors transfer only a portion of their overriding royalty interests. Each assignor specifies the percentage or fraction of their interest being assigned. The assignee receives fractional ownership rights based on the assigned percentages. 3. Proportional Assignment: This assignment type involves the proportional transfer of overriding royalty interests by multiple assignors. Each assignor contributes a specific share of their interest, and the total assigned interest is distributed among the assignees in proportion to their contributions. 4. Non-Proportional Assignment: This assignment type does not distribute overriding royalty interests proportionally among assignees. Instead, the assignors assign specific quantities or amounts of their interests to each assignee, without considering their proportional rights. Kansas Assignment of Overriding Royalty Interest in Multiple Assignors is a critical legal instrument used to formally document and validate the transfer of ownership rights in oil and gas leases. It helps protect the interests of all parties involved while facilitating the smooth transfer of overriding royalty interests. This document typically includes details regarding the assignor, assignee, description of the lease, specific assignment terms, consideration (if any), and signatures of all parties.
