Sec. 12. (a) The
lease of a mineral interest and execution of any lease under this chapter is binding concerning the interest in the mineral and the right to produce and develop the mineral owned by any respondent to the action in the same manner as if the respondent personally had signed and delivered the lease.
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Terms Used In Indiana Code 32-23-13-12
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- mineral interest of an unknown or missing owner: means :
Indiana Code 32-23-13-2
(c) A person who may have a contingent or future interest in the mineral interest of an unknown or missing owner is bound by the judgment entered in the proceedings under this chapter.
As added by P.L.28-2015, SEC.1.
