Lapse of rental payment; nonproduction or nondevelopment of
lease
Sec. 1. (a) Leases for oil and gas that are recorded in Indiana are
void:
(1) after a period of one (1) year has elapsed since:
(A) the last payment of rentals on the oil and gas lease as
stipulated in the lease or contract; or
(B) operation for oil or gas has ceased, both by the
nonproduction of oil or gas and the nondevelopment of the
lease; and
(2) upon the written request of the owner of the land,
accompanied by the affidavit of the owner stating that:
(A) no rentals have been paid to or received by the owner or
any person, bank, or corporation in the owner's behalf for a
period of one (1) year after they have become due; and
(B) the leases and contracts have not been operated for the
production of oil or gas for one (1) year.
As added by P.L.2-2002, SEC.8.
Last modified: May 24, 2006