North Dakota Durable Power of Attorney For Limited Purpose of Executing Division orders and Transfer orders

• Category: Oil Gas and Minerals - Agent Designations
• State: Multi-State
• Control #: US-OG-020
• Format: Word; Rich Text

Description

This form is described in the title. If an agent/attorney in fact signs a division order for a third party, the disburser of production will most probably call for an original of this power of attorney to accompany the signed division order, or a copy of a recorded power of attorney accompany the division order.

A North Dakota Durable Power of Attorney is a legal document that allows an individual, known as the "principal," to appoint someone, known as the "agent" or "attorney-in-fact," to handle their financial affairs and make decisions on their behalf. In the case of executing division orders and transfer orders, a Durable Power of Attorney for Limited Purpose can be specifically tailored to grant the agent the authority to act in these matters. A Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders is commonly used in the oil and gas industry, where owners of mineral rights may need assistance in managing the division and transfer of their ownership interests. By executing this type of power of attorney, the principal can ensure that their agent has the legal authority to execute these specific types of orders on their behalf, while still retaining control over other financial matters. There are various types of North Dakota Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders that can be customized to suit different needs. Some common variations include: 1. General Limited Power of Attorney for Executing Division Orders: This type of power of attorney provides the agent with the authority to execute division orders on behalf of the principal. Division orders are legal documents that specify how the proceeds from the production of oil, gas, or other minerals should be distributed among the various interest owners. 2. Limited Power of Attorney for Executing Transfer Orders: This power of attorney empowers the agent to execute transfer orders related to the principal's ownership interests. Transfer orders are used when the principal wants to sell, assign, or otherwise transfer their rights to another party. 3. Special Power of Attorney for Executing Division Orders and Transfer Orders: This type of power of attorney grants the agent the authority to execute both division orders and transfer orders, encompassing a broader range of responsibilities related to the principal's ownership interests. When creating a North Dakota Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders, it is crucial to specify the scope of authority granted to the agent, including any limitations or conditions imposed by the principal. Additionally, the principal should carefully select a trustworthy and competent agent who understands the industry and can effectively handle these financial matters. In summary, a North Dakota Durable Power of Attorney for Limited Purpose of Executing Division Orders and Transfer Orders is a valuable legal tool for individuals involved in the oil and gas industry. By appointing an agent to handle these specific tasks, the principal can ensure that their financial affairs relating to division orders and transfer orders are managed efficiently and in accordance with their wishes.