Indiana Statutes
§ 32-23-13-9 — Trustee duties; lease
Indiana·Title 32 PROPERTY·Art. 23 CONVEYANCE OF PROPERTY INTERESTS·Ch. 13 Mineral Estates of Unknown or Missing Owners
(a)The trustee shall do the following:
(1)Enter into negotiations with the adjacent mineral producer
petitioner.
(2)Execute a mineral lease in favor of the petitioner covering the
interest of the respondents that reflects the findings and judgment
of the court.
(3)Promptly prepare and file a report of the mineral lease with
the court that states the terms of the lease and the payments
received for the lease.
(4)Give notice of the report of the mineral lease to all parties
appearing of record.
(b)The court shall review the mineral lease under subsection (a) to
determine if the lease is in accordance with the court's findings and
judgment. If the court approves the mineral lease, the court shall:
(1)issue an order confirming the lease; and
(2)issue an order terminating the trust.
(c)
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Legislative History
As added by P.L.28-2015, SEC.1.
Nearby Sections
15
§ 32-16-1-1
"Prior property law"§ 32-16-1-2
Purpose of recodification§ 32-16-1-3
Statutory construction of recodification§ 32-16-1-4
Effect of recodification§ 32-16-1-5
Recodification of prior property law§ 32-16-1-6
References to repealed statutes§ 32-16-1-7
References to citations§ 32-16-1-8
References to prior rules§ 32-16-1-9
References to prior property law§ 32-17-1-1
"Grantor"§ 32-17-1-2
Fee simple conveyance§ 32-17-1-3
Estates tail; abolition§ 32-17-1-4
Lineal and collateral warranties; abolition§ 32-17-10-1
Application of chapter