Ohio Lessor's Notice of Election to Take Royalty in Kind

State:
Multi-State
Control #:
US-OG-105
Format:
Word; 
Rich Text
Instant download

Description

Many forms of oil and gas leases allow the lessor to take the royalty share of oil (and sometimes gas) in kind. This form is a notice by a lessor, to be delivered to a lessee, of the lessor's intent to exercise that right under the terms of a lease, and take the lessor's share of royalty production in kind.

How to fill out Lessor's Notice Of Election To Take Royalty In Kind?

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FAQ

Section 1509.31 | Operation of well; notice to holder of royalty interest of assignment or transfer of entire interest in lease.

Royalty Clause There are two types of royalties, a net and a gross royalty. Normally, the oil and gas lease contains a net royalty. If the lease provides for a net royalty, this means that post-production deductions will be taken from the royalty.

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Ohio Lessor's Notice of Election to Take Royalty in Kind