This form is used when an Assignor assigns, transfers, and conveys to Assignee an overriding royalty interest in the Lease and all of the oil and gas produced, saved and marketed from the Lease, out of the interest owned by Assignor, with proportionate reduction (the Override ).
Pennsylvania Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction is a legal document that allows the transfer of a portion of the overriding royalty interest from one party to another party in Pennsylvania. This assignment typically occurs when a landowner or a mineral rights owner wants to transfer a percentage of their royalty interest to another party. In Pennsylvania, there are a few different types of Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction: 1. Partial Assignment: This type of assignment involves transferring a specific percentage or fraction of the overriding royalty interest to another party. The assignee will receive a proportionate share of the royalty payments generated from the lease. 2. Temporary Assignment: Sometimes, a landowner or a mineral rights owner may temporarily assign a portion of their overriding royalty interest to another party. This type of assignment is often done to meet financial obligations or to share the burden of expenses related to the lease. The temporary assignee will receive a proportionate share of the royalty payments for a specified period. 3. Permanent Assignment: A permanent assignment involves the complete transfer of the overriding royalty interest to another party. The assignee becomes the new owner of the assigned percentage and receives all future royalty payments associated with the lease. Keywords: Pennsylvania, Assignment of Overriding Royalty Interest, Single Lease, Proportionate reduction, transfer, royalty interest, landowner, mineral rights' owner, percentage, fraction, assignee, royalty payments, temporary assignment, permanent assignment.
