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If disputes arise, it often leads to legal proceedings where the agreement's terms will be interpreted to settle the issue.
Typically, both parties will draft the document, sign it, and then it may need to be filed to formalize the transfer.
Yes, it's wise to file these documents with the appropriate public office to provide notice of the ownership change.
You should include the names of the parties, a description of the gathering systems, and any specific terms of the sale.
Yes, you can transfer undivided interests, meaning that ownership is shared among multiple parties for different systems.
Having this document ensures that all parties are clear about who owns what, protecting everyone involved in the transaction.
It's a legal document used to transfer ownership of gathering systems, which are pipelines or facilities collecting oil and gas from wells.
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