57-222. Oil and gas leases; life tenant; trustee for remaindermen; appointment.
154 words·~1 min read·
/ne/chapter-57/57-222A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In any case where, by will, deed, or other instrument, title to real estate is in a tenant for life or other person having the right to the use thereof and income therefrom, with the remainder interest left to one or more contingent remaindermen, so that it is impossible to determine until the death of the life tenant or the future happening of some other determining event, who the contingent remaindermen will be or what interest, if any, the various contingent remaindermen will take, the county court of the county in which the real estate is located, upon the application of the life tenant, or any other person having a vested or contingent interest in the real estate, shall have jurisdiction and authority to appoint a trustee under proper bond, over the real estate, for the purpose of leasing the land or entering into pooling or unitization contracts for oil and gas developing purposes.