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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.
Think about your long-term goals, the risks involved, and consult with an expert. It’s like navigating a ship; you want to make sure you won’t hit any rocks along the way!
Your responsibilities under the original lease generally remain the same, even after you’ve assigned part of it, so it’s important to keep on top of those duties.
Once you’ve done a partial assignment, changing the lease terms can be a bit tricky. It usually requires agreement from all parties involved, so be sure to read the fine print!
Like any investment, there are risks. You still have some responsibilities and could be impacted by decisions made about the lease, so it pays to tread carefully.
Reserving an overriding royalty interest allows you to keep a share of the revenue from oil or gas production after you've sold or assigned part of your lease.
A partial assignment means transferring part of your rights in an oil, gas, or mineral lease to someone else while retaining some rights for yourself.
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Long Beach California Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest