Property Law and Real Estate Commons^™

Security Aspects Of The Abc Transaction, John T. Schmidt

Michigan Law Review

In recent years, investments in subterraneous oil and gas have become a common addition to the investment portfolios of national financial institutions. Relying on the assurances of reputable geological studies, traditionally conservative financers have invested amounts ranging up to several hundred million dollars against collateral once accepted only by speculators and a few adventurous oil-country bankers. The increased interest in these investments is in part attributable to the development of the ABC method of financing the purchase of producing oil and gas properties. This method offers unique tax advantages, which have been discussed elsewhere, but also creates problems for the …

Adverse Possession Of Severable Minerals, William B. Stoebuck

West Virginia Law Review

The subject of adverse possession is attended by such mystery that one might think it traceable to the druidic rather than late medieval period of English history. Existence of this mystery, needless as it may be, makes it worthwhile for any article on adverse possession to commence by establishing some basic concepts. Foremost among these is that, as understood today, adverse possession of another's land for the period of the statute limiting his right to recover it not only bars his remedy but creates in the disseisor an original title in fee simple. Thus, adverse possession gives the wrongful possessor …

Compulsory Oil And Gas Unitization: Effect On Overriding Royalty Obligations- A Hypothetical Judgement Of The High Court Of Juristic Review In Peter Fox Brewing Co. V. Sohio Petroleum Co., Maurice H. Merrill

Michigan Law Review

Jus, Chief Justice. As should be well known, our practice is to sit in review of decisions presenting elements of difficulty, and concerning the propriety of which there seems reason for doubt. We have no jurisdiction to reverse, to modify, or to affirm. Our judgment must be confined to approval or to disapprobation, or to some position between these two extremes.

Mines And Minerals--Surface Transmission Of Electricity Under Implied Mining Rights, Charles David Mcmunn

West Virginia Law Review

No abstract provided.

Mines And Minerals--Breach Of Covenant--Measure Of Damages, Eugene Triplett Hague Jr.

West Virginia Law Review

No abstract provided.

Limitation Of Actions For Failure Of Subjacent Support

Washington and Lee Law Review

No abstract provided.

P. G. Lake-Its Effect On A Conveyance By The Lessor Of A Lease Bonus With A Retained Royalty

Indiana Law Journal

No abstract provided.

Mines And Minerals--Natural Gas Not Included In Conveyance Of "Minerals", F. L. D. Jr.

West Virginia Law Review

No abstract provided.

Real Property--Oil And Gas Leases--Right Of Lessor Against Sublessee, L. B. S.

West Virginia Law Review

No abstract provided.

Working Part Of A Mineral Estate As Adverse Possession Of The Whole, Joe Lee

Kentucky Law Journal

No abstract provided.

Mining Claims: The Nemesis Of Federal Land Management, Raymond W. Haman

Washington and Lee Law Review

No abstract provided.

The Rule Against Perpetuities And Typical Oil And Gas Leases, David R. Macdonald S.Ed.

Michigan Law Review

This comment is concerned with the examination of various methods of creating future interests in gas and oil and the effect of the rule against perpetuities on these interests.

Use Of The Containing Space After The Removal Of Subsurface Minerals, Robert T. Donley

West Virginia Law Review

Two recent West Virginia cases-one expressly, and the other inferentially-again bring to prominence the much-debated question of who has the "ownership" of the space remaining after the removal of subsurface minerals where there has been a severance in title of them from the other strata. It may be remarked, at the outset, that the results reached by the courts are the same whether the title of the mineral owner be granted to him or whether it be excepted by him from a grant of the land. The discussion which will follow is not in the spirit of adverse criticism of …

Book Reviews, Hugh L. Sowards, Stanley D. Rose (Reviewer), William D. Warren (Reviewer)

Vanderbilt Law Review

Securities Legislation

By Louis Loss

Boston: Little, Brown & Com-pany, 1951. Pp. xxvii, 1283. $17.50

reviewer: Hugh L. Sowards

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Private Property, the History of an Idea

By Richard Schlatter

New Brunswick: Rutgers University Press, 1951. Pp. 284. $2.50

reviewer: Stanley D. Rose

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Oil and Gas Law: Collection of articles

TEXAS LAW REVIEW

Austin: Texas Law Review, Inc., 1951. Pp. xix, 1736. $15.00

reviewer: William D. Warren

Real Property-Notice-Recitals In Unrecorded Deeds In Chain Of Title, James S. Taylor

Michigan Law Review

The plaintiff, Eiring, owner of all rights in a tract of land, attempted to convey certain mineral rights to Earnest by deed. The alleged rights passed from Earnest by subsequent mesne conveyances to McMillan, and, on the death of McMillan, to the defendant as trustee. Eiring brought an action against the defendant in statutory trespass to try title to the land. In the deed from Eiring to Earnest blank spaces were left in the granting clause. Held, the blank spaces rendered the deed void, and the deficiency was not cured by reference to another indefinite deed. After holding this, …

Formal Requirements For Creation Of The Oil And Gas Lessee's Interest, William D. Warren

Vanderbilt Law Review

The practice of the courts of employing almost as many varying and contradictory descriptions of the nature of the lessee's interest under the usual oil and gas lease as there are petroleum producing states has a historical origin which is clearly traceable. In the latter half of the nineteenth century as each of the known oil bearing states was slowly explored and developed for petroleum, it fell the lot of their courts to solve the complicated legal problems arising in this new and unique industry. Equipped with but little accurate scientific knowledge about the physical behavior of oil and gas, …

Hughett V. Caldwell County--Measure Of Damages For Innocent Conversion Of Minerals, Arloe W. Mayne

Kentucky Law Journal

No abstract provided.

Real Property - General Mineral Reservation In Deed - Lack Of Knowledge That Substance Is A Mineral, G. B. Myers

Michigan Law Review

In 1892 plaintiff's predecessor in title contracted to convey certain land to defendant, subject to a reservation of "all coal and mineral deposits in and upon said lands," and in 1896 he executed a deed to defendant containing the same reservation. Plaintiff, in 1947, filed a bill to quiet title to bauxite deposits on the land. Held, bill dismissed. Bauxite, not being generally regarded as a mineral at the time of conveyance, was not intended to be within the operation of the mineral reservation. Carson v. Missouri Pac. R. Co., 212 Ark. 963, 209 S.W. (2d) 97 (1948).

Future Interests-Rule Against Perpetuities--Validity Of An Option Incident To A Lease Exercisable After The Expiration Of The Lease, Irving Slifkin S.Ed.

Michigan Law Review

On November 13, 1941, plaintiff entered into a lease with defendant granting defendant the exclusive right to mine and remove coal from plaintiff's mine for twenty years. Incident to the lease defendant was granted the option, "at any time subsequent to November 1st, 1945, to purchase the remaining tonnage of recoverable coal" at a specified price. A deed thereto was placed in escrow. In January, 1946, defendant elected to exercise the option, tendered the price, and received the deed from escrow. Plaintiff refused to recognize the validity of the option and commenced an action in equity to cancel the deed …

The West Virginia Law Of Forfeited And Delinquent Lands, George G. Bailey

West Virginia Law Review

No abstract provided.

Mines And Minerals--Leases--Covenant To Pay Minimum Annual Royalty For Term, J. H.

West Virginia Law Review

No abstract provided.

Taxation-Income Tax-Depletion-Lessor's Share In Net Income As Subject To Depletion, William H. Buchanan S.Ed.

Michigan Law Review

Taxpayer which owned certain lands leased the same to companies for production of oil and other minerals for a cash bonus, a royalty in the usual form, and an agreement that lessor should receive a percentage of the net money profits realized by the lessees from their operation under the lease. Lessor claimed a right to deduct depletion allowance from the receipts which were a percentage of the net income arising from operating the properties. Held, lessor had a right to depletion deduction in respect to the percentage of net income because it had an "economic interest" in the …

Progress In The Law Of Oil And Gas, C. C. Williams Jr.

West Virginia Law Review

No abstract provided.

Minable And Merchantable Coal, G. S. B.

West Virginia Law Review

No abstract provided.

Note On Secondary Recovery, C. C. Williams Jr.

West Virginia Law Review

No abstract provided.

Oil And Gas - Interpretation Of Lease Containing Royalty Provisions, Brooks F. Crabtree

Michigan Law Review

Several of the plaintiffs owned oil-producing land in Oklahoma and had leased it to one Briggs. The lease ran for a fixed term and "so long thereafter as oil or gas may be produced therefrom by the lessee." It provided for a royalty payment to the lessor of one-eighth of the oil or gas produced, and gave the lessee the right "at any time" to remove all machinery and equipment placed on the premises, including the right to draw and remove the casing. Briggs sold the equipment thereon to defendant and later sold the lease itself to one of the …

Landlord And Tenant--Covenant Running With The Land--Rule In Dumpor's Case, N. E. S.

West Virginia Law Review

No abstract provided.

Principal And Surety - Discharge Of Surety For A Lessee By Assignment Of The Lease, H. Martin Peckover

Michigan Law Review

Lands set aside by statute as common property of the Chickasaw and Choctaw Indian tribes were, pursuant to an act of Congress, leased to one Gunther by mining trustees of the tribes. The lease contained covenants to pay "stipulated annual advance royalties," and also provided that no assignment should be made without the consent of the trustees "subject to the approval of the Secretary of the Interior." Defendant surety company executed a bond for the faithful performance of the terms of the lease, and the same was duly approved. Then Gunther, with the consent of the trustees, but not the …

On Leasing Gas From Coal Seams, C. C. Williams Jr.

West Virginia Law Review

No abstract provided.

Deeds - Construction - Effect Of Words Showing Purpose Of Grant, Michigan Law Review

Michigan Law Review

Plaintiff sought to enjoin defendants from drilling for oil and gas on a strip of land which defendants claimed through a "right of way deed" conveying and warranting the strip to a railroad company "as and for its right of way'' and describing the land as "across and upon" a certain quarter-section. The deed recited as consideration $250 and the benefits accruing to the grantor through the construction and operation of a railroad on the land. Tracks were never laid on the strip, but the railroad company continued to pay taxes thereon. Held, that under Illinois law a fee …