This form is used when an Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all oil, gas, and other minerals produced, saved, and marketed from the Lands and Leases equal to a percentage of 8/8 (the Override ).
A North Dakota Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the state of North Dakota to transfer the ownership of overriding royalty interests from one party to another. This assignment specifically applies to multiple leases and ensures that there is no reduction in proportionate distribution of the royalty interests. Keywords: North Dakota, assignment, overriding royalty interest, multiple leases, no proportionate reduction, long form, legal document, transfer of ownership There is no specific mention of different types of North Dakota Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form. However, variations of this assignment may exist depending on specific details such as parties involved, lease agreements, and other legal requirements. It is crucial to consult with legal professionals or refer to the specific assignment form provided by relevant authorities for accurate information. The North Dakota Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form typically includes the following details: 1. Parties involved: The names and addresses of the assignor(s) (current owner(s) of the overriding royalty interest) and the assignee(s) (new owner(s) of the overriding royalty interest) are mentioned at the beginning of the document. 2. Lease details: The document specifies the leases from which the overriding royalty interest is being assigned. It includes the lease numbers, effective dates, and any other relevant information that identifies the leases involved. 3. Assignment details: This section outlines the specific details of the assignment, such as the effective date of the assignment, the percentage or fraction of the overriding royalty interest being assigned, and any conditions or considerations involved in the assignment. 4. No proportionate reduction clause: This clause ensures that the assignment does not result in a reduction in the proportionate distribution of royalty interests among the multiple leases involved. It guarantees that the overriding royalty interest assigned to the assignee(s) shall not affect the interests or benefits of other parties involved in these leases. 5. Legal provisions: The document may include standard legal provisions that protect the rights of the parties involved, such as warranties, representations, indemnification, and dispute resolution mechanisms. 6. Execution and notarization: The assignment must be signed by both the assignor(s) and assignee(s) and witnessed by a notary public. This ensures the authenticity and enforceability of the document. Note: This description provides a general overview and should not be considered as legal advice. It is advisable to consult with legal professionals or refer to the specific assignment form provided by relevant authorities for accurate and up-to-date information.
