Louisiana Revised Statutes 31:206 – A. Except as provided in Paragraph B of this Article, when a mineral right is extinguished by the accrual of prescription of nonuse, expiration of its term, or otherwise, the former
Terms Used In Louisiana Revised Statutes 31:206
- 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
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. Except as provided in Paragraph B of this Article, when a mineral right is extinguished by the accrual of prescription of nonuse, expiration of its term, or otherwise, the former owner shall, within thirty days after written demand by the person in whose favor the right has been extinguished or terminated, furnish the person with a recordable act evidencing the extinction or expiration of the right.
B. When a mineral lease is extinguished prior to the expiration of its primary term, the former lessee shall, within ninety days after the extinguishment, record an act evidencing the extinction or expiration of the lease in the official records of all parishes wherein the lease is recorded.
Acts 1974, No. 50, §1, eff. Jan. 1, 1975. Amended by Acts 1981, No. 612, §1; Acts 1982, No. 358, §1, eff. July 18, 1982; Acts 2023, No. 88, §1.