Guardians of minors and incapacitated persons; option contracts
for exploring
Sec. 1. Guardians of the estates of persons under the age of
eighteen (18) years and incapacitated persons (as defined in
IC 29-3-1-7.5) owning real estate in any county in Indiana in which
coal and other solid minerals are being explored for, developed,
recovered, marketed, or found by mining or other methods are
authorized with the consent of the court to enter into option contracts
with prospective mining operators for the purpose of exploring and
testing the land for coal and other solid minerals, with tools,
machinery, and appliances and for the purchase of the real estate and
mineral deposits on terms, conditions, and considerations as the
guardian shall consider to be for the best interest of the protected
person's estate. All options for exploring, testing, and sale must be
made with the consent of the court having probate jurisdiction in the
county as provided in this chapter.
(Formerly: Acts 1943, c.105, s.1; Acts 1973, P.L.264, SEC.7.) As
amended by P.L.33-1989, SEC.89.
Last modified: May 27, 2006