This form is used when Assignor assigns, sells, and conveys to Assignee an undivided % of all of Assignor's rights, title and interests in an Oil and Gas Lease. This Assignment covers and includes a like interest in all equipment and fixtures located on the Lease.
New Hampshire Assignment of Undivided Interest in Producing Lease
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State:
Multi-State
Control #:
US-OG-255
Format:
Word;
Rich Text
Instant download
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How to fill out Assignment Of Undivided Interest In Producing Lease?
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FAQ
Sale/Liens Any co-tenant may sell or convey his undivided interest in the property, but such sale will only convey an undivided interest, and the buyer or assignee will become a co-tenant with the other owners.
Tenancy in Common However, tenants in common still have an undivided interest in the property, meaning that they have the right to use and enjoy the entire property. There is no right of survivorship. If an owner dies, that owner's interests pass on to his or her heirs.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
An undivided interest subdivision is a subdivision where owners share undivided interests in the entire parcel of land, and have a non-exclusive right to use the property. An example would be a recreational vehicle park.
Unlike divided co-ownership, undivided co-ownership is not physically separated into separate private and common portions. If you decide to purchase this type of property, you will be acquiring a percentage of an entire building.
An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property. The undivided interest is not separated into parts or shares.
