IC 30-1-6
    Chapter 6. Oil, Gas, and Mineral Leases

IC 30-1-6-1
Administrators, executors, and guardians; powers to executeleases; term; jurisdiction; sale of leases; petition
    Sec. 1. Administrators and executors of estates of deceasedpersons and guardians of the estates of persons under eighteen (18)years of age and incapacitated persons (as defined in IC 29-3-1-7.5)are authorized to execute oil and gas, coal, or other mining leasesupon the lands belonging to the estates of the deceased persons, or ofpersons under eighteen (18) years of age or incapacitated persons, fora term not to exceed ten (10) years and as long thereafter as oil, gas,coal or other minerals may be produced in paying quantities, uponcompliance with this chapter. The court having probate jurisdictionin the county in which the guardianship or administrationproceedings are pending shall have jurisdiction to order the sale forexecution and delivery of a lease or leases upon the filing of apetition alleging that the estate of the deceased person or the estateof a person under eighteen (18) years of age or a protected person isthe owner of the lands described in the petition, and that the landshave a probable value for oil and gas, coal or other mining purposes,stating the probable value of the proposed lease, and that the estateof the deceased person or of the protected person is not financiallyable or that it is impractical for the estate to explore and develop theland for oil and gas, coal, or other minerals, and that it is to the bestinterest of the estate to lease the lands. The petition shall be verifiedby the administrator, executor, or guardian, and if it involves landsbelonging to the estate of deceased persons, the petition shall setforth the names and post office addresses of the heirs of the deceasedpersons. If the will of any deceased person empowers the executor tosell oil, and gas, coal, or other mineral leases upon the lands of thetestator, it shall not be necessary for the executor, or theadministrator with the will annexed, to comply with this chapter. Theword "land" or "lands" includes any oil, gas, coal, or other mineralrights or interests in lands which may be leasable.
(Formerly: Acts 1943, c.270, s.1; Acts 1973, P.L.264, SEC.5.) Asamended by Acts 1982, P.L.171, SEC.88; P.L.33-1989, SEC.85.

IC 30-1-6-2
Sale of leases; order of court; notice; royalties; bonus
    Sec. 2. Upon the filing of a petition under section 1 of thischapter, the court in its discretion and upon showing of benefit to theestate of the decedent or protected person shall make an orderauthorizing and directing the administrator, executor, or guardian tosell a lease upon the lands for oil, and gas, coal, or other miningpurposes. The sale may be either public or private as the court maydirect and upon notice as may be fixed by the court in its order ofsale. Should the court determine from the petition that the sale priceof the lease would not be sufficient to justify the giving of notice of

sale, the court may order the lease sold without notice. Any sale ofoil, and gas, coal leases, or other mineral rights under this chaptershall be on a royalty basis and bonus if any. The bonus shall bepayable in cash at the time of the execution and delivery of the leaseor on terms as the court shall deem just and proper. Where an estateis solvent, no administrator or executor may lease land as providedin this chapter unless the administrator or executor is joined in thelease by the heirs, or their guardians if the heirs are under the age ofeighteen (18) years or incapacitated, of the deceased person whoseestate is being administered. If the lands to be leased are situated inany other county than that in which the probate proceeding ispending, then the notices of sale, if any are to be given, shall bepublished and posted in the county of the location of the lands.
(Formerly: Acts 1943, c.270, s.2; Acts 1973, P.L.264, SEC.6.) Asamended by Acts 1982, P.L.171, SEC.89; P.L.33-1989, SEC.86.

IC 30-1-6-3
Bidding; report; hearing; endorsement
    Sec. 3. In compliance with the terms of the order for the sale ofsaid oil and gas, coal, or other mineral lease, said administrator,executor, or guardian shall offer said lease for sale and sell the sameto the highest bidder upon such terms and conditions as the courtshall order and shall thereupon file a report of sale showing the landupon which said lease was sold, the term of years thereof, the nameof the purchaser, and the amount for which the same was sold, andattach to the return a copy of the form of lease proposed to beexecuted, which report shall thereupon, without further notice, beheard by the court having probate jurisdiction and if the court findsthat said sale was properly conducted as herein provided, and that theprice bid for said lease was not disproportionate to the value thereof,said sale shall be confirmed and said administrator, executor orguardian authorized and directed to execute and deliver said lease,and when said lease is executed the judge shall indorse his approvalthereon.
(Formerly: Acts 1943, c.270, s.3.)

IC 30-1-6-4
Consolidating with adjoining land; joint development
    Sec. 4. Every guardian, executor, or administrator shall have thepower, upon approval by the court wherein the guardianship ispending, to execute agreements consolidating the lands of theprotected person or of the estate covered by an oil and gas mininglease that has been executed, or which may be executed, or any partthereof, with other adjoining land for the purpose of jointdevelopment and operation of the entire consolidated premises as aunit, to the end that the protected person or estate shall shareproportionately in the royalty on oil, gas and casinghead gasproduced from the consolidated tract.
(Formerly: Acts 1943, c.270, s.4.) As amended by P.L.33-1989,SEC.87.
IC 30-1-6-5
Acts conclusive; disaffirmance denied
    Sec. 5. Acts of guardians under this chapter are conclusive uponthe protected person and any future disaffirmance is denied.
(Formerly: Acts 1943, c.270, s.5.) As amended by P.L.33-1989,SEC.88.