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This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
Absolutely! Just like you can sell your car or pass down your favorite book, overriding royalty interests can be sold or transferred to someone else.
A stated percentage is the specific portion of profits that the overriding royalty interest holder gets. It’s like saying you'll take 10% of a friend’s ice cream cone – you know exactly what you’ll scoop up!
A single lease refers to one specific property where oil or gas is being extracted. Think of it as having a single rental agreement for an apartment – it’s all about one place and its profits.
Assigning an overriding royalty interest means that the working interest owner is passing on some of their earnings to someone else. It’s like handing over a portion of your paycheck to a friend for helping out.
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Chandler Arizona Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage