This form is used when the Assignor sells, assigns, and conveys to Assignee, an undivided percentage of all of Assignor's rights, title, and interests in his Oil and Gas Leases. By this Assignment, Assignor also sells, assigns, and conveys to Assignee a like undivided interest in all equipment, personal property, and fixtures located on the lands covered by the Leases.
Oklahoma Assignment and Bill of Sale of Undivided Interest in Multiple Producing Leases - Short Form
Category:
State:
Multi-State
Control #:
US-OG-260
Format:
Word;
Rich Text
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FAQ
In an undivided interest arrangement, two or more owners of a working interest share revenues and expenses in ance with their proportional ownership interests. In a divided interest arrangement, the owners of a working interest receive revenue and pay for expenses based on their ownership of specific acreage.
The term ?undivided interest? refers to a type of ownership in which multiple parties share ownership of a single asset without the property being physically divided among them. This is commonly seen in real estate, natural resource holdings, and certain types of financial investments.
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.
This means they each person owns an undivided one-half interest in the property but there is no automatic right of survivorship. When one co-owner dies the interest of the deceased co-owner goes directly to that person's heir or heirs, either by will or by intestate succession.
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.
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This form is used when the Assignor sells, assigns, and conveys to Assignee, an undivided percentage of all of Assignor's rights, title, and interests in ... The best way to edit Assignment and Bill of Sale of Undivided Interest in Multiple Producing Leases - Short Form online · Sign up and log in to your account.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 ... BASIC OIL AND GAS FORMS PROGRAM · Assignment (Undivided Interest in Producing Lease) · Assignment and Bill of Sale (To Life Tenant and Remainderman) · Assignment ... A. Seller desires to sell, assign and convey to Buyer and Buyer desires to purchase and accept certain oil and gas interests and leases, wells and related ... by DE Pierce · Cited by 23 — The motivating force for assigning an interest in a lease is usually economic. The ... assigns Y an undivided 1/2 interest in the lease and the assignment states. The term "nonoperating interest" should be carefully defined to include overriding royalties, production payments, net profits interests, convertible interests, ... Feb 5, 2021 — This publication includes various statutes and Oklahoma Administrative Code rules specifically for Oklahoma documentary stamp tax administration ... Assignment and Bill of Sale: an instrument used to evidence the sale, transfer or Conveyance of an ownership interest in real property. (including oil and gas ... If the bill of sale is not combined with the assignment so that a separate ... B next assigns an undivided interest in the lease to C. B and C determine the ...
