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 Nebraska Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a legal document that pertains to the transfer of overriding royalty interests in the state of Nebraska. This specific type of assignment does not involve any proportionate reduction in the interest being transferred. In Nebraska, overriding royalty interests are a type of non-operating interest in an oil and gas lease. They allow the holder, known as the overriding royalty interest owner, to receive a portion of the revenue generated from the production of oil and gas from the leased property. The Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is typically used when the overriding royalty interest owner wants to transfer their interest to another party. This document ensures that the assignee receives the full interest without any reduction or dilution. It is important to note that there may be different variations or types of assignments that fall under this category. For example, there could be assignments that involve a proportionate reduction in the overriding royalty interest being transferred. However, the specific focus here is on the Nebraska Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction. When executing this type of assignment, both parties involved must carefully review and agree upon the terms and conditions outlined in the document. These terms may include the specific percentage or portion of the overriding royalty interest being transferred, as well as any additional provisions or restrictions. This Nebraska Assignment of Overriding Royalty Interest is a legally binding agreement that ensures a smooth and transparent transfer of the interest. It protects the rights of both the overriding royalty interest owner and the assignee, providing clarity and certainty in their respective positions. In conclusion, the Nebraska Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, is a significant legal document in the context of oil and gas lease transfers. It serves as a means to facilitate the transfer of overriding royalty interests without any proportionate reduction in the interest being transferred.
