§58-924. Oil, gas and mineral leases by executors and

363 words·~2 min read·/ok/title-58-probate-procedure/58-924

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

administrators or guardians - Proceeding in district court - Petition.

Administrators and executors of estates of deceased persons and guardians of the estates of minors and incompetent persons are hereby authorized to sell and execute oil and gas or other mining leases upon the lands belonging to the estates of said deceased persons, or of said minors or incompetent persons, for a term not to exceed ten

(10)years and as long thereafter as oil, gas or other minerals may be produced in paying quantities, upon compliance with this act, and the district court in which said guardianship or administration proceedings are pending shall have jurisdiction to order said sale upon the filing of a petition therein alleging that the estate of said deceased person or the estate of said minor or incompetent ward is the owner of the lands which shall be described in said petition, and that the same have a probable value for oil and gas mining purposes, and that the estate of said deceased person or of said ward is not financially able or that it is impractical for said estate to explore said land for oil and gas, and that it is to the best interest of the estate to lease said lands at public auction to the highest bidder for cash, which petition shall be verified by said administrator, executor or guardian, and if it involves lands belonging to the estates of deceased persons, the

petition shall set forth the names and post office addresses of the heirs of such deceased persons. If the will of any such deceased person empowers the executor to sell oil and gas or other mineral leases upon the lands of the testator, it shall not be necessary for the executor, or the administrator with the will annexed, to comply with this act, but in such case the sale and execution of the lease shall be deemed to be a sale of property and subject to Section 1299 of Oklahoma Statutes, 1931. The word "land" or "lands" as used herein, includes any oil, gas or other mineral rights or interests in lands which may be leaseable. Laws 1937, p. 4, § 1.