This is a Preferential Right to Purchase Production form. The assignor reserves the right at any time and from time to time to purchase or designate a purchaser for all of assignees oil and other liquid hydrocarbons produced and saved from the interests in the lands and leases that are the subject of this assignment.
Oregon Preferential Right to Purchase Production is a legal provision in the state of Oregon that grants specific groups the first opportunity to purchase agricultural or forestland properties that are being sold. This right is intended to protect and support certain industries and communities by ensuring their access to land for production purposes. One of the main types of Oregon Preferential Right to Purchase Production is the Farmland Protection Program (FPP). The FPP enables eligible farmers or agricultural organizations to exercise their preferential right when qualifying farmland is offered for sale. This program supports sustainable agriculture and helps to preserve the state's agricultural industry by ensuring that agricultural land remains in the hands of farmers. Another type is the Forestland Protection Program (FLIP). This program is designed to benefit qualified timberland owners who wish to continue managing their lands for timber production. When a qualifying timberland property is listed for sale, eligible timberland owners or organizations have the opportunity to exercise their preferential right to purchase, thereby maintaining the sustainable management of Oregon's forests. The Oregon Preferential Right to Purchase Production is not limited to these specific programs. It may also cover other industries or communities that are deemed crucial for the state's economic growth and stability. Various stakeholders, like fishermen, ranchers, and nurseries, amongst others, may have the chance to exercise their preferential right to purchase production properties that are relevant to their respective industries. The preferential right to purchase is triggered when a property owner decides to sell their production land. The process typically involves several steps. First, the owner must provide notice to the relevant organization or group eligible for the preferential right, allowing them an opportunity to express their intention to purchase. The eligible party then has a specified period to exercise their right by making an offer to buy the property. The owner can either accept the offer or reject it, opening the property for sale to the public. The Oregon Preferential Right to Purchase Production is a vital mechanism to preserve and protect the state's valuable agricultural and forest assets. It helps maintain and promote sustainable industries by ensuring that critical lands remain available for farming, timber production, and other production-related activities. This provision aims to strike a balance between private property rights and the greater community's economic and environmental interests, ultimately contributing to the long-term prosperity and well-being of Oregon.
