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This form is used by the Assignor to transfer, assign, and convey to Assignee interests in leases and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
If things go south, your interests might be affected, so it's important to understand the risks involved and have a backup plan.
Getting legal help is a smart move to ensure everything is above board and your interests are protected, just like having a good map on a long journey.
You should consider the potential revenue, risks involved, and how it affects your ownership rights before making any moves.
Once a partial assignment is made, it's generally set in stone, so it's wise to think carefully before diving in.
Reserving an overriding royalty interest allows you to receive a share of the revenue generated from the oil or gas extracted, even though you've given up some of your lease rights.
A partial assignment means giving away some rights or interests in oil, gas, or mineral leases, while still keeping some rights for yourself.
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Jersey City New Jersey Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest