This form is used by the Owner to provide notice that the overriding royalty interests which are owned by Owners are to be merged into, combined with, and a part of Owners working interest, and the net revenue interest in production Owner is entitled to in all oil and gas produced from the Lands and Leases.
The Tennessee Notice of Merger of Working and Overriding Royalty Interests is a legal document that pertains to the consolidation or combination of these two types of royalty interests in the state of Tennessee. This notice is filed with the relevant authority to inform interested parties about the merger and ensure transparency in the transfer of rights. Working royalty interests refer to the rights granted to an individual or entity in relation to the exploitation and production of minerals, oil, gas, or other natural resources on a specific piece of land. This interest grants the holder a percentage of the proceeds from the extraction and sale of these resources. On the other hand, overriding royalty interests are similar to working royalty interests but are typically separate from the ownership of the land. These interests are created through contractual agreements and entitle the holder to a percentage of the revenues generated from the extraction and sale of resources, overriding any other royalty or working interest. When a merger of working and overriding royalty interests occurs, the notice serves as a public disclosure of the consolidation. It provides essential details about the parties involved, such as the names and contact information of the merging entities. The document also highlights the specific working or overriding royalty interest being merged, including the percentage of ownership before and after the merger. Additionally, the notice may outline the terms and conditions of the merger, such as any changes in obligations, rights, or responsibilities of the merged interests. This is crucial in clarifying how the merger will impact the distribution of revenues or any other relevant aspects of the individual interests. Different types of Tennessee Notice of Merger of Working and Overriding Royalty Interests may be classified based on the specific types of resources involved. For instance, there could be separate notices for mergers related to oil and gas interests, minerals, or other natural resources. These distinctions help ensure that the relevant authorities and interested parties can readily identify the nature of the merger and its implications accurately. In conclusion, the Tennessee Notice of Merger of Working and Overriding Royalty Interests is a critical legal document that discloses the consolidation of these two types of interests. By providing comprehensive information about the merger, this notice aims to maintain transparency and facilitate proper management of royalty rights in the state.
