Texas Estates Code 351.303 – Treatment of Certain Amounts Received From Mineral Lease
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Terms Used In Texas Estates Code 351.303
- 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
For the purposes of this subchapter, bonuses, rentals, and royalties received for or from an oil, gas, or other mineral lease shall be treated as income rather than as principal.