PETE 3025 Study Guide - Quiz Guide: Polyethylene Terephthalate, Old Mother Hubbard, Cash Flow
Document Summary
The basic mineral rights that may be created by a landowner are the mineral servitude, the mineral royalty, and the mineral lease. Renunciation of the servitude on the part of him to whom it is due. Expiration of the time for which the servitude was granted, or the happening of dissolving condition attached to the servitude. Extinction of the right of servitude owner: royalty. Renunciation of the royalty right on the part of him to whom it is due. Expiration of the time for which the royalty right was granted or dissolving condition attached to the mineral royalty. Extinction of the right of the mineral royalty owner: methods of interruption, servitude. At the site chosen to that point or depth. Constitute single operation although drilling isn"t conducted at all times: royalty. The lease documents must then be registered in the conveyance and mortgage records of the parish in which the leased premises is located.
