Sec. 7. (a) The court shall receive evidence and hear testimony concerning:

(1) the matters in the adjacent mineral producer‘s petition; and

contract signature

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Terms Used In Indiana Code 32-23-13-7

  • adjacent mineral producer: means a person that:

    Indiana Code 32-23-13-1

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • unknown or missing owner: means a person:

    Indiana Code 32-23-13-3

(2) the prevailing terms of similar mineral leases of the type sought by the petitioner obtained in the vicinity of the land in the petition, including the length of the lease term, bonus money, delay rentals, royalty rates, and other forms of lease payments.

     (b) If the court determines that the material allegations of the petition are true and that there has been compliance with the required notice provisions, the court:

(1) shall enter an order determining the interest of each respondent in the mineral interest sought to be leased; and

(2) may:

(A) declare a trust in the mineral interest of the unknown or missing owner;

(B) appoint, without a bond, a trustee for the unknown or missing owner; and

(C) authorize the trustee to execute a valid mineral lease:

(i) with the adjacent mineral producer concerning the type of mineral developed by the adjacent mineral producer on the mineral interest of the unknown or missing owner; and

(ii) on terms and conditions approved by the court.

     (c) The court’s judgment appointing a trustee and authorizing the execution of a lease must specify the minimum terms that may be accepted by the trustee. The terms must be substantially consistent with the terms of other similar mineral leases obtained in the vicinity as determined by the court.

     (d) The court shall determine a reasonable fee to be paid to the trustee. The trustee’s fee, including reasonable attorney‘s fees and costs of the proceeding, shall be paid by the adjacent mineral producer petitioner. Any other court costs related to the proceedings under this chapter shall be paid by the petitioner. However, each party shall pay its costs associated with issues arising under section 8 of this chapter.

     (e) If a trustee:

(1) dies or resigns; or

(2) refuses or is unable to act;

the court, upon the court’s motion or the motion of the petitioner, shall appoint a successor trustee.

As added by P.L.28-2015, SEC.1.

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