§ 15-56-401. Exemptions

This subchapter shall not apply to the execution of oil and gas leases and shall in no wise infringe upon or affect the provisions of §§ 15-73-301 — 15-73-308.

§ 15-56-402. Authority to execute leases

Whenever any land in this state is devised by will or conveyed by grant to any person by any language which at common law would have vested in that person an estate in fee tail, then the person who at common law would have been invested with a fee tail estate in the lands and […]

§ 15-56-403. Petition to lease by life tenant — Contents

(a) Whenever any life tenant shall desire to lease any land for the production of any minerals, other than oil and gas, he or she shall file a verified petition with the circuit court of the county in which the lands, or the greater part of the lands, may be situated, praying for authority to […]

§ 15-56-404. Court determination

(a) The court shall consider the petition and may in its absolute discretion require that other persons as it deems proper be made parties to the proceeding. The court may hear testimony to determine whether or not the execution of the lease is advisable. (b) The court shall also determine what part of the bonus […]

§ 15-56-405. Court order — Disposition of royalties

(a) If the court after hearing as provided in § 15-56-404 shall determine that the lease should be executed, the judge shall enter an order authorizing the life tenant to execute the lease. (b) The court shall further: (1) Fix and determine the part of the bonus consideration paid for the lease; the delay rentals, […]

§ 15-56-406. Trustee

(a) The trustee shall be under the continuing control of the circuit court. The court may remove the trustee at will, and upon the death, removal, or resignation of the trustee, the court may appoint his or her successor. (b) The trustee, by and with the consent and approval of the court, may invest the […]

§ 15-56-407. Confirmation of lease by court — Effect

(a) After the trustee has executed the bond required by the court, the life tenant shall execute and present to the court for its examination the mineral lease so authorized. This lease shall reflect the portion of the consideration, rentals, other payments, if any, and royalties which shall be paid to the life tenant and […]

§ 15-56-408. Divestiture of contingent remaindermen’s title

The order of the court fixing the proportionate part of the consideration, rentals, other payments, if any, and royalties reserved in and accruing under the lease allowed to the life tenant and the order confirming the execution of the lease shall operate to work a divestiture of title of the contingent remaindermen, and each of […]

§ 15-56-409. Service of process on respondents — Hearing on petition

Service of process shall be had upon the respondents in the manner provided by law as in other chancery cases, and the petition may be heard on oral testimony taken in open court.