This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
South Carolina Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the transfer of a specific portion of the royalty interest from the assignor to the assignee, while the assignor still retains the right to pool or combine the assigned interest with other interests. This document is commonly used in the oil and gas industry to facilitate the transfer of royalty interests. Keywords: South Carolina, Assignment of Overriding Royalty Interest, Assignor, Reserves the Right, Pool the Assigned Interest, Short Form, royalty interest, transfer, assignee, oil and gas industry. Types of South Carolina Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form: 1. Individual Assignment: This type of Assignment of Overriding Royalty Interest occurs when an individual assignor transfers a specific portion of their overriding royalty interest to an assignee while still reserving the right to pool the assigned interest with other interests. 2. Corporate Assignment: In this case, a corporation or company assigns a portion of their overriding royalty interest to another entity or individual while reserving the right to pool the assigned interest. This type of assignment may occur when a company wants to diversify its royalty interests or needs additional capital. 3. Joint Venture Assignment: When two or more parties come together to pool their overriding royalty interests, they may use this type of assignment. Each party retains the right to pool the assigned interest with other interests within the joint venture, allowing for increased efficiency and cost-sharing. 4. Partial Assignment: This form of Assignment of Overriding Royalty Interest allows the assignor to transfer a specific percentage or fraction of their overriding royalty interest to the assignee, while maintaining the right to pool the assigned interest with remaining interests. 5. Time-limited Assignment: In some cases, assignors may choose to assign their overriding royalty interests temporarily, allowing the assignee to benefit from the royalty payments for a specific period. Afterward, the assignor regains full control and the right to pool the assigned interest. Overall, South Carolina Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a crucial legal document that ensures a transparent and lawful transfer of royalty interests, while allowing the assignor to retain the option of pooling the assigned interest with others.
