Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

nonownership theory

Read a random definition: enactment

A quick definition of nonownership theory:

Nonownership theory: A way of describing oil and gas rights in some places that says the owner of the minerals doesn't have the right to possess the oil and gas right now, but only to look for it, develop it, and take it out of the ground. This means the owner can't use the land where the oil and gas is found, but can take things of value from it. This theory is used in a few states like California, Wyoming, Louisiana, and Oklahoma.

A more thorough explanation:

Nonownership theory is a concept used in the oil and gas industry. It refers to a legal principle that states that the owner of a mineral interest does not have the right to possess the oil and gas in place, but only to search for, develop, and produce it. This means that the owner of the mineral interest has the right to use the land and remove items of value from it, but not to possess the oil and gas in place.

For example, let's say that John owns a piece of land that has oil and gas reserves underneath it. He sells the mineral rights to Jane, who now has the right to search for, develop, and produce the oil and gas. However, under the nonownership theory, Jane does not have the right to possess the oil and gas in place. She can only extract it and use it for her own purposes.

The nonownership theory is used in a few states, including California, Wyoming, Louisiana, and Oklahoma. It is different from the ownership-in-place theory, which holds that the owner of the mineral interest has the right to possess the oil and gas in place.

nonoperative performance bond | non pars substantiae sive fundi, sed accidens

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.