The Michigan Release of Production Payment Created by an Assignment is a legal document that outlines the transfer of rights, interests, and payments related to the production of oil, gas, or other mineral resources. This document is specific to the state of Michigan and is used to facilitate the assignment of these production payments from one party to another. The release of production payment is typically made by an assignor, who is the original owner of the production interest, to an assignee, who is the recipient of the assignment. This transfer can occur due to various reasons such as a sale, lease, or other contractual agreements. The document includes detailed information about the assignor and the assignee, including their legal names and addresses. It also outlines the specific terms and conditions of the assignment, including details about the production payment, such as the amount and frequency of payments. The Michigan Release of Production Payment Created by an Assignment ensures that the assignee receives the assigned production payments and assumes all associated rights and obligations. It serves as a legal protection for both parties involved, ensuring that the transfer of ownership and payments is properly recorded and documented. Different types of Michigan Release of Production Payment Created by an Assignment can include variations based on the specific mineral resources involved. For example, there might be separate documents for oil, gas, or other minerals, each specifying the unique terms and conditions of the assignment. In summary, the Michigan Release of Production Payment Created by an Assignment is a crucial document in facilitating the transfer of production payments related to oil, gas, or other mineral resources. It ensures that the assignee receives the assigned payments and assumes all associated rights and obligations, while providing legal protection for both parties involved.