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US Legal Forms
Localized Forms
North Carolina
Raleigh
Reservation of Overriding Royalty Interest

Raleigh North Carolina Reservation of Overriding Royalty Interest

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

City:

Raleigh

Control #:

US-OG-511

Format:

Word;

Rich Text

Instant download

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Description

This provision provides for the assignor to except from this assignment and reserve an overriding royalty interest of all oil, gas, casinghead gas, and other minerals that may be produced from the lands under the terms of the Leases that are the subject of this assignment.

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Interesting Questions

How can I find out if there are Overriding Royalty Interests on a property?

You can check public records, consult with landmen or real estate professionals, or contact local agencies in Raleigh. Sometimes, digging a little deeper can unearth some valuable info!

What happens if the property is sold?

If the property is sold, the Overriding Royalty Interest typically transfers with it, unless otherwise specified in the sale agreement. It’s important to know what strings are attached!

Do I need a lawyer to draft the reservation agreement?

While it’s not strictly necessary, having a lawyer is highly recommended. They can help navigate the legal waters and ensure your interests are protected – better safe than sorry!

What are the risks involved with an Overriding Royalty Interest?

Like any investment, there are risks. Production may not meet expectations, or operations might halt altogether, impacting your revenue. It’s a bit of a double-edged sword!

Who should consider reserving an Overriding Royalty Interest?

Investors, landowners, and those interested in the energy sector should think about reserving an Overriding Royalty Interest, especially if they want a stake in the land's resources. It’s like playing into the big leagues!

How do I reserve an Overriding Royalty Interest in Raleigh?

To reserve an Overriding Royalty Interest in Raleigh, you typically need to negotiate a deal with the property owner or lessee, and make it part of the contract. It’s all about the fine print!

What is an Overriding Royalty Interest?

An Overriding Royalty Interest is a share of the production revenue from oil and gas leases that comes off the top, before any costs are deducted. It's like getting a piece of the pie before it's sliced up.