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Simple English definitions for legal terms

royalty interest

Read a random definition: asexually reproducing plant

A quick definition of royalty interest:

Royalty interest is a share of the money made from selling oil or gas that comes from a piece of land. The person who owns the royalty interest gets a part of the money, but they don't have the right to operate the land or lease it to someone else. They also don't have to pay for the costs of producing the oil or gas. It's like getting a small piece of the pie without having to do any work for it.

A more thorough explanation:

Definition: A royalty interest is a share of production or the value of production, free of production costs, when and if there is production. It is commonly used in the oil and gas industry and is usually expressed as a fraction, such as 1/6. A royalty-interest owner has no right to operate the property and therefore cannot lease the property or share in bonuses or delay rentals. In some states, a royalty owner has the right to take the royalty production.

Example: If a landowner owns a royalty interest of 1/8 in an oil well, they will receive 1/8 of the revenue generated from the sale of oil produced from that well, free of production costs.

Explanation: This example illustrates how a royalty interest works in the oil and gas industry. The landowner does not have the right to operate the well or lease the property, but they are entitled to a share of the revenue generated from the sale of oil produced from the well.

Related Terms: Established Royalty, Reasonable Royalty, Royalty

Royal Marriages Act | RPTR.

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EW THE NEW LOGO IS SO UGLY
WTF
12:09
need to send in my berkeley app rawwwww
BulbasaurNoLikeCardio
12:09
@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.
BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
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