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 ).
Montana Assignment of Overriding Royalty Interest in Multiple Assignors is a legal process in which the owners of mineral rights assign their rights to receive royalties to another entity. This assignment can occur when multiple assignors agree to transfer their overriding royalty interest to a single assignee. Keywords: Montana, assignment, overriding royalty interest, multiple assignors, mineral rights, royalties, assignee. There are several types of Montana Assignment of Overriding Royalty Interest in Multiple Assignors, including: 1. Voluntary Assignment: This type of assignment happens when the multiple assignors willingly transfer their overriding royalty interest to a chosen assignee. It is typically done for various reasons, such as financial gain, estate planning, or simplifying ownership. 2. Involuntary Assignment: In some cases, the overriding royalty interest of multiple assignors may be involuntarily assigned due to legal proceedings or court orders. This can occur in situations such as bankruptcy, foreclosure, or divorce where the court mandates the transfer of rights. 3. Partial Assignment: Multiple assignors may choose to assign only a portion of their overriding royalty interest to a single assignee. This type of assignment allows the assignors to retain some ownership while still benefiting from the royalties generated. 4. Complete Assignment: Alternatively, the multiple assignors may decide to assign their entire overriding royalty interest together. This type of assignment transfers full ownership and rights to the assignee, who will then be entitled to the entirety of the royalties generated. It is important to note that a Montana Assignment of Overriding Royalty Interest in Multiple Assignors is a legally binding agreement that should be executed in compliance with state laws and regulations. It is advisable for both parties involved to seek legal counsel to ensure the assignment is properly documented and legally valid.
