Section 32-23-8-1 - Lapse of rental payment; nonproduction or nondevelopment of lease Leases for oil and gas that are recorded in Indiana are void:
(1) after a period of one (1) year has elapsed since:(A) the last payment of rentals on the oil and gas lease as stipulated in the lease or contract; or(B) operation for oil or gas has ceased, both by the nonproduction of oil or gas and the nondevelopment of the lease; and(2) upon the written request of the owner of the land, accompanied by the affidavit of the owner stating that:(A) no rentals have been paid to or received by the owner or any person, bank, or corporation in the owner's behalf for a period of one (1) year after they have become due; and(B) the leases and contracts have not been operated for the production of oil or gas for one (1) year.Pre-2002 Recodification Citation: 32-5-8-1 part.
Amended by P.L. 86-2018,SEC. 225, eff. 3/15/2018.As added by P.L. 2-2002, SEC.8.