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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.
Once you sign, it’s usually a done deal, so be sure to think it through carefully. Backing out after the fact can be tricky and might lead to some headaches.
If you're considering this, it's wise to talk to a knowledgeable attorney or a resource management expert, just to make sure you’re not getting in over your head.
Typical terms may include how much of the royalties the original owner keeps, the duration of the deal, and other responsibilities like maintenance and repairs.
Yes, a lease allows someone to use the land for resource extraction, while an assignment transfers certain rights in that lease to another party, kind of like sharing a pizza.
People often go for a Partial Assignment to tap into immediate funds or to share the risk and rewards of exploration without giving away all their rights.
Reserving an Overriding Royalty Interest means that the original property owner keeps a share of the profits from the oil or gas extracted, even after they've sold some rights to another party.
A Partial Assignment is when a property owner transfers some of their rights in oil, gas, or mineral leases to someone else while keeping a piece of the pie for themselves.
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Portland Oregon Partial Assignment of Oil, Gas, and Mineral Leases Reserving An Overriding Royalty Interest