Classifications And Consequences

Question 0

Mineral interest

Answer 0

The right to go on the land to explore and produce minerals
Right to:
1. Develop, 2. Lease, 3. To royalties, 4. To delay rentals, 5. To bonus payments

Question 1

Leasehold interest

Answer 1

The lessee has the exclusive authority to go upon the land to explore and produce minerals

Question 2

Royalty interest

Answer 2

Not authorized to go on the land but shares in severed minerals or the proceeds
Right to: royalties and delay rentals
NO right to : develop and lease

Question 3

Corporeal right

Answer 3

An interest in land that includes the right of possession of the land (possessory estate). Not subject to abandonment

Question 4

Incorporeal right

Answer 4

An interest in land that includes the right to use the land (non-possessory estate). Subject to abandonment

Question 5

Easement

Answer 5

The right to use real property without possessing it
Ingress- enter property
Egress- leave property

Question 6

Profit a prende

Answer 6

Interest in real property in the form of an incorporeal hereditament. A special type of easement where an owner can take something from the land, rather than just have the right to use

Question 7

Gerhard v. Stephens

Answer 7

California
In California mineral rights do not give any actual right to possess, rather they give the right to use constituting an incorporeal hereditament. However, abandonment was not proved

Question 8

Dormant minerals act

Answer 8

Allows the state to take an abandoned mineral interest if unused for a period of time

Question 9

Mineral lapse act

Answer 9

Any interest in minerals shall, if unused for 20 years, be extinguished, unless a statement of claim is filed, and revert back to the owner of the interest out of which it was carved

Question 10

Texaco v. Short

Answer 10

Indiana

The mineral lapse act was ruled constitutional