This form is used when an Agent declares and acknowledges that the consideration for an Assignment should accrue to the benefit of Principal, and that Principal is the owner of the reserved interest in the Assignment. To give effect to declaration, Agent, as Assignor, grants, sells, and assigns to Principal, as Assignee, all of Agent's interest in the Lease and the interest reserved by Agent in the Assignment.
Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal
Category:
State:
Multi-State
Control #:
US-OG-313
Format:
Word;
Rich Text
Instant download
Description
How to fill out Declaration That Oil And Gas Lease Was Acquired By Agent For Principal?
Are you presently in the situation that you will need paperwork for sometimes business or personal purposes just about every working day? There are a lot of lawful document templates available on the net, but finding ones you can rely on is not effortless. US Legal Forms delivers 1000s of type templates, such as the Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal, that happen to be created to satisfy state and federal requirements.
In case you are presently acquainted with US Legal Forms web site and possess an account, just log in. After that, you are able to obtain the Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal web template.
If you do not offer an account and would like to begin using US Legal Forms, follow these steps:
- Discover the type you want and make sure it is for your right area/region.
- Take advantage of the Preview key to examine the form.
- Look at the outline to actually have chosen the right type.
- When the type is not what you are searching for, use the Look for discipline to find the type that fits your needs and requirements.
- If you find the right type, click on Buy now.
- Choose the rates strategy you would like, complete the specified information to produce your bank account, and pay for your order making use of your PayPal or credit card.
- Select a hassle-free file file format and obtain your backup.
Get every one of the document templates you might have purchased in the My Forms food list. You may get a extra backup of Oregon Declaration That Oil and Gas Lease Was Acquired by Agent For Principal any time, if necessary. Just go through the necessary type to obtain or print the document web template.
Use US Legal Forms, one of the most substantial assortment of lawful forms, in order to save time and steer clear of mistakes. The service delivers professionally created lawful document templates which you can use for an array of purposes. Generate an account on US Legal Forms and begin producing your life a little easier.
Form popularity
FAQ
Operating Rights/Working Interest: The interest or contractual obligation created out of a lease (referred to as a sublease) authorizing the holder of that right to enter the leased lands to conduct drilling and related operations, including production.
Calculating Overriding Royalty Interest An ORRI is a straight percentage. For example, a 2% override would appear on the royalty statement as 0.02 interest in the proceeds from the sale of the leased hydrocarbons.
Is there more than one type of oil and gas lease? Yes, there are three types: a surface use lease, a non-surface use lease, and a dual purpose lease.
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.
What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.
The record title interest includes the obligation to pay rent and the rights to assign and relinquish the lease. [1] The operating rights interest authorizes the holder to drill for and conduct operations and produce the leased substances.
Record Title: Primary ownership of an interest in an oil and gas or geothermal lease including the obligation to pay rent, and the right to transfer and relinquish the lease.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
