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 New Mexico Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document that allows for the transfer of overriding royalty interests from one party to another in the state of New Mexico. This document is specifically designed for multiple leases and ensures that the transfer does not result in a reduction of the royalty interests in each lease proportionally. Keywords: New Mexico, Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form. The New Mexico Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is an essential legal contract that facilitates the transfer of overriding royalty interests between parties involved in multiple leases of oil, gas, or mineral rights in the state of New Mexico. This type of assignment ensures that the transfer does not result in a proportional reduction of the royalty interests in each individual lease. There may be different variations or types of the New Mexico Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form, including but not limited to: 1. Standard Assignment — This is the basic form of the assignment that covers the transfer of overriding royalty interests without any specific additional terms or conditions. 2. Multi-Party Assignment — In cases where there are multiple assignors and assignees involved in the transfer, this type of assignment outlines the rights and obligations of each party involved. 3. Partial Assignment — This type of assignment allows for the transfer of only a portion of the overriding royalty interests from one party to another, specifying the exact percentage or fraction being transferred. 4. Documentation Requirements — This form may include additional documentation requirements, such as the need for legal descriptions or specific information about the leases involved. 5. Consideration and Compensation — The assignment might outline the consideration or compensation to be provided by the assignee to the assignor in exchange for the transfer of overriding royalty interests. 6. Due Diligence and Title Examination — In complex transactions, this type of assignment may require the assignee to conduct due diligence and perform a thorough examination of the title to ensure the validity and legality of the overriding royalty interests being assigned. It is crucial to carefully review and understand the specific terms and conditions of the New Mexico Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form to ensure compliance with New Mexico laws and regulations regarding overriding royalty interests and lease transfers. Consulting with a qualified attorney or legal professional specializing in mineral rights transactions is highly recommended protecting the interests of all parties involved.
