§ 47-33o — Dormant Mineral Interests Act: Definitions.

As used in sections 47-33m to 47-33t, inclusive: (1) “Mineral interest” means an interest in a mineral estate, however created and regardless of form, whether absolute or fractional, divided or undivided, corporeal or incorporeal, including a fee simple or any lesser interest or any kind of royalty, production payment, executive right, nonexecutive right, leasehold or security interest in minerals, regardless of character, whether fugacious or nonfugacious, organic or inorganic. (2) “Minerals” includes oil, gas, coal, other liquid, gaseous and solid hydrocarbons, oil shale, cement material, sand and gravel, road material, building stone, chemical substances, gemstones, metallic ores, fissionable ores and nonfissionable ores, colloidal or other clays, steam or other geothermal resources, and any other substances defined as minerals by the law of this state. (3) “Mineral estate” means any interest in or ownership of minerals which are or may be situated in, on or under land, the fee estate of which is owned by any other person or entity. The term “mineral estate” includes, but is not limited to, a fee interest, a leasehold interest, a life use and any term which is measured by the life of another or by the happening of a future event, whether contingent or noncontingent, and includes any easement or license in, over and across the land in which the minerals are located for the purpose of obtaining access to and removing the minerals.

Legislative History

(P.A. 87-283, S. 3.)