§ 38-30-107.5 — Royalty interests - minerals or geothermal resources

Colorado § 38-30-107.5

• Jurisdiction: Colorado
• Title 38: Property -
• Art.: Titles and Interests

Text

(1) Any
conveyance, reservation, or devise of a royalty interest in minerals or geothermal
resources, whether of a perpetual or limited duration, contained in any instrument
executed on or after July 1, 1991, creates a real property interest which vests in the
holder or holders of such interest the right to receive the designated royalty share
of the specified minerals or geothermal resources or the proceeds therefrom in
accordance with the terms of the instrument. Unless otherwise provided in the
conveyance, reservation, or devise, the holder of such interest shall not have the
right to:

(a) Explore for or develop the minerals or geothermal resources;

(b) Grant a mineral development lease; or

(c) Receive any share of rentals, bonus payments, surface damage
payments, or similar sums that might be payable under the terms of any mineral
development lease.

Legislative History

Source: L. 91: Entire section added, p. 1677, � 1, effective July 1.