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Simple English definitions for legal terms

royalty interest

Read a random definition: ROR

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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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.
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