§ 30-1-7-1 — Guardians of minors and incapacitated persons; option contracts for exploring

Guardians of the estates of persons under the
age of eighteen (18) years and incapacitated persons (as defined in IC 29-3-1-7.5) owning real estate in any county in Indiana in which coal
and other solid minerals are being explored for, developed, recovered,
marketed, or found by mining or other methods are authorized with the
consent of the court to enter into option contracts with prospective
mining operators for the purpose of exploring and testing the land for
coal and other solid minerals, with tools, machinery, and appliances
and for the purchase of the real estate and mineral deposits on terms,
conditions, and considerations as the guardian shall consider to be for
the best interest of the protected person's estate. All options for
exploring, testing, and sale must be made with the consent of the court
having probate jurisdiction in the county as provided in this chapter.
Formerly: Acts 1943, c.105, s.1; Acts 1973, P.L.264, SEC.7. As
amended by P.L.33-1989, SEC.89.