Interests created; title; alienability
Sec. 7. (a) Interests in the oil and gas in, on, under, or that may be
taken from beneath the surface of land located in Indiana may be
created:
(1) for life;
(2) for a term of years; or
(3) in fee;
in the manner and to the extent that other interests in real estate and
title are created.
(b) Title to the estates specified under subsection (a) may be
vested in one (1) or more persons by:
(1) sole ownership;
(2) tenancy in common;
(3) joint tenancy;
(4) tenancy by the entireties; or
(5) another manner recognized under Indiana law.
(c) Interests or estates specified in this section are freely alienable,
in whole or in part, in the same manner as are other interests in real
estate.
As added by P.L.2-2002, SEC.8.
Last modified: May 24, 2006