(1) Upon the filing of such petition, the court or judge thereof sitting in chambers within the district, if such court or judge deems the petition sufficient, shall set the matter down for hearing and direct to what persons and in what manner notice of such hearing shall be given.

Terms Used In Nebraska Statutes 57-212

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Chambers: A judge's office.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • 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
  • Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.

(2) At the hearing provided for in subsection (1) of this section, any person interested in the estate, trust, conservatorship, or guardianship proceeding may appear and present objections to the proposed lease or pooling or unitization contract. If objections are filed to the petition, the court or judge thereof may adjourn the hearing to enable the parties to fully present their reasons and evidence for and against the proposed lease or pooling or unitization contract.

(3) If no objections are filed, as provided for in subsection (2) of this section, or if upon such hearing the objections are deemed insufficient, the court or judge thereof may make an order authorizing such lease or pooling or unitization contract upon such terms and for such consideration and period as is deemed proper by the court or judge thereof. Such lease or pooling or unitization contract may be for a term as long as ten years and as long thereafter as oil, gas, or other hydrocarbons shall be, or can be, produced in commercial quantities. The lease or pooling or unitization contract shall not be invalid or voidable because its term may or does extend beyond the term of office of the executor, administrator, trustee, conservator, or guardian making the same, beyond the time of final settlement of the estate or trust, beyond the minority of the minor, or beyond the time of infirmity and physical disability of the person having a conservator, or beyond the period of incompetency of any such incompetent.

Source

  • Laws 1939, c. 69, § 3, p. 282;
  • C.S.Supp.,1941, § 57-212;
  • R.S.1943, § 57-212;
  • Laws 1951, c. 191, § 3, p. 702;
  • Laws 1953, c. 190, § 2, p. 612;
  • Laws 1955, c. 215, § 3, p. 604;
  • Laws 1967, c. 350, § 3, p. 929.
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