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Pennsylvania Assignment of Oil and Gas Lease

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Pennsylvania Assignment of Oil and Gas Lease Powered By Docstoc
					                                                          Assignment of Oil and Gas
                                       Lease
Docstoc Legal Agreements




                           This Assignment of Oil and Gas Lease can be used by companies/individual
                           to whom rights are transferred for the use of oil and gas with regards to the
                           leased property.
                           The Assignee acquires the same rights and privileges as the Assignor. The
                           Assignor remains liable unless released by the landlord.




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                                                                                                Attorney Drafted
                        ASSIGNMENT OF OIL AND GAS LEASE

This Assignment is made and entered into on ______ [Month] ____ [ Date], 20___, which shall
also be the effective date of this agreement, for all purposes, by and between
_____________________ [Instruction: Insert the name of individual/company], (hereinafter
referred to as “Assignor”), having principal place of business at _____________________
[Instruction: Insert the address of individual/company] and _____________________
[Instruction: Insert the name of individual/company], (hereinafter referred to as “Assignee”),
having principal place of business at _____________________ [Instruction: Insert the address
of individual/company], individually termed as “Party” and collectively termed as “Parties”
agree that:

                                       Identity of Lease

WHEREAS, Assignor is Lessee under an Oil and Gas Lease executed on ______ [Month] ____
[Date], 20___, by Assignor as Lessee and ___________________________ [Instruction: Insert
the name or names of the actual owner/lessor of the property], covering the real property in
the County of ___________, [Instruction: Insert the County] __STATE__ described as follows
(hereinafter termed as the “Assigned Premises”):

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
[Instructions: Insert legal description of real property]; and

WHEREAS, that lease is duly recorded in Book ___________, [Instruction: Insert the book
name] at Page ___________ [Instruction: Insert the page number] of the official records of
the county of __________, [Instruction: Insert the County] __STATE__.

                                         Assignment

   NOW, THEREFORE, in consideration for the sum of ________ ($___) [Instruction:
   Insert the sum, e.g., fifty thousand dollars ($50,000)] (hereinafter termed as the
   “Assignment Price”) and other good and valuable consideration, receipt of which is hereby
   acknowledged, Assignor does hereby assign and transfer to Assignee all of Assignor's right
   and interest in the lease and the real property covered by the lease,
				
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Description: This is an agreement that transfers the rights and responsibilities of a party under an oil and gas lease to a third party. The agreement transfers the rights to use oil and gas with regards to a specific leased property. The third party acquires the same rights and privileges as the transferring party and the transferring party will remain liable under the original lease unless they are released by the landlord. This document should be used by individuals or entities located in Pennsylvania seeking to assign or acquire rights under an oil and gas lease.
This document is also part of a package Essential Pennsylvania Legal Documents 86 Documents Included