North Dakota Code 38-10-09 – Sales of oil, gas, or mineral rights made subject to existing lease
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Sales of oil, gas, or mineral rights made under the provisions of this chapter must be made subject to the terms of any then existing oil, gas, or mineral lease and must cover and include all or a fractional part of the oil royalty, gas rental or royalty, and mineral rental or royalty to be paid under such lease.
Terms Used In North Dakota Code 38-10-09
- 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