United States Supreme Court upholds Indiana mineral lapse statute
Many states enacted new statutes to facilitate the production of undeveloped minerals interests during the early 1970s. The Supreme Court upheld Indiana's statute against challenges of unconstitutionality. After reviewing the case, the author concludes that the inequitable aspects of the statute provide an unacceptably low level of protection for property rights. Indiana is allowed to create an abandonment statute for its incorporeal mineral interests, but property owners deserve protection under the law which is both equal and equitable. The US Supreme Court compromised this interest in a state statute which provides minimal notice as well as a loop-hole for the major oil interests. 58 references.
- OSTI ID:
- 6757387
- Journal Information:
- Nat. Resour. J.; (United States), Journal Name: Nat. Resour. J.; (United States) Vol. 24:1; ISSN NRJOA
- Country of Publication:
- United States
- Language:
- English
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