IC 30-1-6-1 Administrators, executors, and guardians; powers to execute
leases; term; jurisdiction; sale of leases; petition
Sec. 1. Administrators and executors of estates of deceased
persons 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 leases
upon the lands belonging to the estates of the deceased persons, or of
persons under eighteen (18) years of age or incapacitated persons, for
a term not to exceed ten (10) years and as long thereafter as oil, gas,
coal or other minerals may be produced in paying quantities, upon
compliance with this chapter. The court having probate jurisdiction
in the county in which the guardianship or administration
proceedings are pending shall have jurisdiction to order the sale for
execution and delivery of a lease or leases upon the filing of a
petition alleging that the estate of the deceased person or the estate
of a person under eighteen (18) years of age or a protected person is
the owner of the lands described in the petition, and that the lands
have a probable value for oil and gas, coal or other mining purposes,
stating the probable value of the proposed lease, and that the estate
of the deceased person or of the protected person is not financially
able or that it is impractical for the estate to explore and develop the
land for oil and gas, coal, or other minerals, and that it is to the best
interest of the estate to lease the lands. The petition shall be verified
by the administrator, executor, or guardian, and if it involves lands
belonging to the estate of deceased persons, the petition shall set
forth the names and post office addresses of the heirs of the deceased
persons. If the will of any deceased person empowers the executor to
sell oil, and gas, coal, or other mineral leases upon the lands of the
testator, it shall not be necessary for the executor, or the
administrator with the will annexed, to comply with this chapter. The
word "land" or "lands" includes any oil, gas, coal, or other mineral
rights or interests in lands which may be leasable. (Formerly: Acts 1943, c.270, s.1; Acts 1973, P.L.264, SEC.5.) As
amended 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 this
chapter, the court in its discretion and upon showing of benefit to the
estate of the decedent or protected person shall make an order
authorizing and directing the administrator, executor, or guardian to
sell a lease upon the lands for oil, and gas, coal, or other mining
purposes. The sale may be either public or private as the court may
direct and upon notice as may be fixed by the court in its order of
sale. Should the court determine from the petition that the sale price
of 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 of
oil, and gas, coal leases, or other mineral rights under this chapter
shall be on a royalty basis and bonus if any. The bonus shall be
payable in cash at the time of the execution and delivery of the lease
or on terms as the court shall deem just and proper. Where an estate
is solvent, no administrator or executor may lease land as provided
in this chapter unless the administrator or executor is joined in the
lease by the heirs, or their guardians if the heirs are under the age of
eighteen (18) years or incapacitated, of the deceased person whose
estate is being administered. If the lands to be leased are situated in
any other county than that in which the probate proceeding is
pending, then the notices of sale, if any are to be given, shall be
published 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.) As
amended 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 of
said oil and gas, coal, or other mineral lease, said administrator,
executor, or guardian shall offer said lease for sale and sell the same
to the highest bidder upon such terms and conditions as the court
shall order and shall thereupon file a report of sale showing the land
upon which said lease was sold, the term of years thereof, the name
of the purchaser, and the amount for which the same was sold, and
attach to the return a copy of the form of lease proposed to be
executed, which report shall thereupon, without further notice, be
heard by the court having probate jurisdiction and if the court finds
that said sale was properly conducted as herein provided, and that the
price bid for said lease was not disproportionate to the value thereof,
said sale shall be confirmed and said administrator, executor or
guardian authorized and directed to execute and deliver said lease,
and when said lease is executed the judge shall indorse his approval
thereon. (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 the
power, upon approval by the court wherein the guardianship is
pending, to execute agreements consolidating the lands of the
protected person or of the estate covered by an oil and gas mining
lease that has been executed, or which may be executed, or any part
thereof, with other adjoining land for the purpose of joint
development and operation of the entire consolidated premises as a
unit, to the end that the protected person or estate shall share
proportionately in the royalty on oil, gas and casinghead gas
produced 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 upon
the protected person and any future disaffirmance is denied. (Formerly: Acts 1943, c.270, s.5.) As amended by P.L.33-1989,
SEC.88.
IC 30-1-6-1 Administrators, executors, and guardians; powers to execute
leases; term; jurisdiction; sale of leases; petition
Sec. 1. Administrators and executors of estates of deceased
persons 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 leases
upon the lands belonging to the estates of the deceased persons, or of
persons under eighteen (18) years of age or incapacitated persons, for
a term not to exceed ten (10) years and as long thereafter as oil, gas,
coal or other minerals may be produced in paying quantities, upon
compliance with this chapter. The court having probate jurisdiction
in the county in which the guardianship or administration
proceedings are pending shall have jurisdiction to order the sale for
execution and delivery of a lease or leases upon the filing of a
petition alleging that the estate of the deceased person or the estate
of a person under eighteen (18) years of age or a protected person is
the owner of the lands described in the petition, and that the lands
have a probable value for oil and gas, coal or other mining purposes,
stating the probable value of the proposed lease, and that the estate
of the deceased person or of the protected person is not financially
able or that it is impractical for the estate to explore and develop the
land for oil and gas, coal, or other minerals, and that it is to the best
interest of the estate to lease the lands. The petition shall be verified
by the administrator, executor, or guardian, and if it involves lands
belonging to the estate of deceased persons, the petition shall set
forth the names and post office addresses of the heirs of the deceased
persons. If the will of any deceased person empowers the executor to
sell oil, and gas, coal, or other mineral leases upon the lands of the
testator, it shall not be necessary for the executor, or the
administrator with the will annexed, to comply with this chapter. The
word "land" or "lands" includes any oil, gas, coal, or other mineral
rights or interests in lands which may be leasable. (Formerly: Acts 1943, c.270, s.1; Acts 1973, P.L.264, SEC.5.) As
amended 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 this
chapter, the court in its discretion and upon showing of benefit to the
estate of the decedent or protected person shall make an order
authorizing and directing the administrator, executor, or guardian to
sell a lease upon the lands for oil, and gas, coal, or other mining
purposes. The sale may be either public or private as the court may
direct and upon notice as may be fixed by the court in its order of
sale. Should the court determine from the petition that the sale price
of 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 of
oil, and gas, coal leases, or other mineral rights under this chapter
shall be on a royalty basis and bonus if any. The bonus shall be
payable in cash at the time of the execution and delivery of the lease
or on terms as the court shall deem just and proper. Where an estate
is solvent, no administrator or executor may lease land as provided
in this chapter unless the administrator or executor is joined in the
lease by the heirs, or their guardians if the heirs are under the age of
eighteen (18) years or incapacitated, of the deceased person whose
estate is being administered. If the lands to be leased are situated in
any other county than that in which the probate proceeding is
pending, then the notices of sale, if any are to be given, shall be
published 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.) As
amended 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 of
said oil and gas, coal, or other mineral lease, said administrator,
executor, or guardian shall offer said lease for sale and sell the same
to the highest bidder upon such terms and conditions as the court
shall order and shall thereupon file a report of sale showing the land
upon which said lease was sold, the term of years thereof, the name
of the purchaser, and the amount for which the same was sold, and
attach to the return a copy of the form of lease proposed to be
executed, which report shall thereupon, without further notice, be
heard by the court having probate jurisdiction and if the court finds
that said sale was properly conducted as herein provided, and that the
price bid for said lease was not disproportionate to the value thereof,
said sale shall be confirmed and said administrator, executor or
guardian authorized and directed to execute and deliver said lease,
and when said lease is executed the judge shall indorse his approval
thereon. (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 the
power, upon approval by the court wherein the guardianship is
pending, to execute agreements consolidating the lands of the
protected person or of the estate covered by an oil and gas mining
lease that has been executed, or which may be executed, or any part
thereof, with other adjoining land for the purpose of joint
development and operation of the entire consolidated premises as a
unit, to the end that the protected person or estate shall share
proportionately in the royalty on oil, gas and casinghead gas
produced 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 upon
the protected person and any future disaffirmance is denied. (Formerly: Acts 1943, c.270, s.5.) As amended by P.L.33-1989,
SEC.88.
IC 30-1-6-1 Administrators, executors, and guardians; powers to execute
leases; term; jurisdiction; sale of leases; petition
Sec. 1. Administrators and executors of estates of deceased
persons 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 leases
upon the lands belonging to the estates of the deceased persons, or of
persons under eighteen (18) years of age or incapacitated persons, for
a term not to exceed ten (10) years and as long thereafter as oil, gas,
coal or other minerals may be produced in paying quantities, upon
compliance with this chapter. The court having probate jurisdiction
in the county in which the guardianship or administration
proceedings are pending shall have jurisdiction to order the sale for
execution and delivery of a lease or leases upon the filing of a
petition alleging that the estate of the deceased person or the estate
of a person under eighteen (18) years of age or a protected person is
the owner of the lands described in the petition, and that the lands
have a probable value for oil and gas, coal or other mining purposes,
stating the probable value of the proposed lease, and that the estate
of the deceased person or of the protected person is not financially
able or that it is impractical for the estate to explore and develop the
land for oil and gas, coal, or other minerals, and that it is to the best
interest of the estate to lease the lands. The petition shall be verified
by the administrator, executor, or guardian, and if it involves lands
belonging to the estate of deceased persons, the petition shall set
forth the names and post office addresses of the heirs of the deceased
persons. If the will of any deceased person empowers the executor to
sell oil, and gas, coal, or other mineral leases upon the lands of the
testator, it shall not be necessary for the executor, or the
administrator with the will annexed, to comply with this chapter. The
word "land" or "lands" includes any oil, gas, coal, or other mineral
rights or interests in lands which may be leasable. (Formerly: Acts 1943, c.270, s.1; Acts 1973, P.L.264, SEC.5.) As
amended 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 this
chapter, the court in its discretion and upon showing of benefit to the
estate of the decedent or protected person shall make an order
authorizing and directing the administrator, executor, or guardian to
sell a lease upon the lands for oil, and gas, coal, or other mining
purposes. The sale may be either public or private as the court may
direct and upon notice as may be fixed by the court in its order of
sale. Should the court determine from the petition that the sale price
of 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 of
oil, and gas, coal leases, or other mineral rights under this chapter
shall be on a royalty basis and bonus if any. The bonus shall be
payable in cash at the time of the execution and delivery of the lease
or on terms as the court shall deem just and proper. Where an estate
is solvent, no administrator or executor may lease land as provided
in this chapter unless the administrator or executor is joined in the
lease by the heirs, or their guardians if the heirs are under the age of
eighteen (18) years or incapacitated, of the deceased person whose
estate is being administered. If the lands to be leased are situated in
any other county than that in which the probate proceeding is
pending, then the notices of sale, if any are to be given, shall be
published 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.) As
amended 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 of
said oil and gas, coal, or other mineral lease, said administrator,
executor, or guardian shall offer said lease for sale and sell the same
to the highest bidder upon such terms and conditions as the court
shall order and shall thereupon file a report of sale showing the land
upon which said lease was sold, the term of years thereof, the name
of the purchaser, and the amount for which the same was sold, and
attach to the return a copy of the form of lease proposed to be
executed, which report shall thereupon, without further notice, be
heard by the court having probate jurisdiction and if the court finds
that said sale was properly conducted as herein provided, and that the
price bid for said lease was not disproportionate to the value thereof,
said sale shall be confirmed and said administrator, executor or
guardian authorized and directed to execute and deliver said lease,
and when said lease is executed the judge shall indorse his approval
thereon. (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 the
power, upon approval by the court wherein the guardianship is
pending, to execute agreements consolidating the lands of the
protected person or of the estate covered by an oil and gas mining
lease that has been executed, or which may be executed, or any part
thereof, with other adjoining land for the purpose of joint
development and operation of the entire consolidated premises as a
unit, to the end that the protected person or estate shall share
proportionately in the royalty on oil, gas and casinghead gas
produced 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 upon
the protected person and any future disaffirmance is denied. (Formerly: Acts 1943, c.270, s.5.) As amended by P.L.33-1989,
SEC.88.
