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 Louisiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document that pertains to the transfer of royalty interests in oil and gas leases located in the state of Louisiana. This assignment allows an overriding royalty interest (ORRIS) owner to transfer their ownership rights to another party, without any reduction in proportionate shares. Keywords: Louisiana Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, royalty interests, oil and gas leases, transfer, ownership rights, ORRIS. There are different types of Louisiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, that can occur based on specific circumstances and agreements. Some of these types may include: 1. Inter-Family Transfer: This type of assignment occurs when an ORRIS owner wants to transfer their interest to a family member or relative. The transfer is made without any reduction in proportionate shares. 2. Third-Party Assignment: In this scenario, the ORRIS owner transfers their royalty interests to a third party, such as an investment company or another individual. The assignment is done without any reduction in proportionate shares. 3. Corporate Assignment: This type of assignment takes place when the ORRIS owner is a corporation or a business entity. The assignment allows the corporation to transfer its ORRIS ownership rights to another party, without any reduction in proportionate shares. 4. Trust Assignment: When an ORRIS owner has their interests held in a trust, they can assign their overriding royalty interest to another party, such as a beneficiary or trustee, without proportionate reduction. Each of these types of assignments follows the same principle of transferring the overriding royalty interest without any reduction in proportionate shares. However, the specific details and parties involved may vary depending on the circumstances. It is important to consult a qualified attorney or legal professional when dealing with the Louisiana Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, to ensure compliance with state laws and to properly document the assignment.
