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 ).
The Ohio Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the state of Ohio to transfer the rights to an overriding royalty interest from one party to another. This document is specifically tailored for multiple leases and ensures that there is no reduction in the proportionate share of the royalty interest. Keywords: Ohio Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, legal document, transfer of rights. In Ohio, when multiple leases are involved, it is crucial to have a detailed and comprehensive assignment document to ensure clarity and protect the interests of all parties involved. The Assignment of Overriding Royalty Interest allows for the transfer of the interest from the assignor (the party transferring the rights) to the assignee (the party receiving the rights). The key feature of this long-form assignment is the inclusion of a provision stating that there shall be no proportionate reduction in the royalty interest. This ensures that the assignee receives their full and proportional share of the overriding royalty interest, regardless of any future changes or adjustments to the leases. There are different types of Ohio Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form, categorized based on specific lease details or assigned interests. These types may include: 1. Oil and Gas Lease Assignments: This type of assignment focuses on overriding royalty interests related to oil and gas leases. It provides specific provisions and clauses necessary for the transfer of these interests. 2. Lease Agreement Assignments: This category encompasses assignments that transfer overriding royalty interests on various types of leases, such as mining leases, renewable energy leases, or telecommunications leases. 3. Specific Lease Assignments: In some cases, the assignment may be tailored to a specific lease or a group of leases. This ensures that the document aligns precisely with the terms and conditions of those leases. 4. Partial Assignments: Although the long-form assignment generally involves the transfer of the entire overriding royalty interest, there may be instances where only a portion of the interest is assigned. These partial assignments are also covered by the long-form document, ensuring clarity and protection for all parties. When drafting or using an Ohio Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form, it is essential to consult with legal professionals to ensure compliance with Ohio state laws and to address any specific concerns or requirements related to the leases involved.
