Louisiana Revised Statutes 31:126 – Interests created out of lessee’s interest dependent thereon and not prescriptible
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Terms Used In Louisiana Revised Statutes 31:126
- Dependent: A person dependent for support upon another.
- 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
An interest created out of the mineral lessee’s interest is dependent on the continued existence of the lease and is not subject to the prescription of nonuse.
Acts 1974, No. 50, §126, eff. Jan. 1, 1975.