Successive Interests

Question 0

Common law rule on successive interests

Answer 0

Neither a life tenant or remainderman can develop or lease the mineral estate without the consent of the other
The life tenant cannot deplete the corpus of the estate
If an instrument creates the life tenancy it can be expressly stated that the life tenant has the right to grant a lease

Question 1

Life tenant remainderman relationship

Answer 1

The life tenant holds title to the estate, but preserves and protects it so that at death of the life tenant, the title is handed down to the remainderman

Question 2

Doctrine of waste

Answer 2

Drilling new wells is considered waste. Life tenants cannot drill new wells or enter into new leases

Question 3

Wellborn v. Tidewater

Answer 3

Oklahoma

Smith owned a life estate and garret owned remainderman interest. Smith as guardian of garret signed the lease.

Wellborn didn’t have smith sign in both capacities and therefore lost the lease

Question 4

Open mine doctrine

Answer 4

When and oil and gas lease exists before the creation of the successive interests the life tenant can continue to receive royalties but no new leases or extensions can be made.

Question 5

Moore v. Vines

Answer 5

Texas

The open mine doctrine did not apply to Troy after the creation of the life estate. The lease created before the joint will was allowable and Troy could enjoy all royalties. But no extensions could be made by Troy without rubys heirs,the remaindermen, consent