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All sources · 72,166 documents · Table of contents · PROPERTY · Chapter 765 — PROPERTY · Act 515

Illinois

Chapter 765 — PROPERTY · Act 515
15 entries
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Sec. 1. As used in this Act the following definitions shall apply:.
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Sec. 2. The circuit court of the county wherein the severed mineral interest sought to be affected, or the major portion thereof, is situated shall have jurisdiction of.
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Sec. 3. If the title to any severed mineral interest is vested in an unknown or missing owner, the circuit court of the county in which the minerals or the major portio.
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Sec. 4. Proceedings for the appointment of a trustee may be instituted by any person:.
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Sec. 5. (a) The person seeking to impress a trust upon a severed mineral interest for the purpose of leasing and developing the same shall join as defendants to the act.
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Sec. 6. The trustee shall enter into negotiations with prospective purchasers of the mineral lease and shall sell a mineral lease covering the interest of the defendant.
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Sec. 7. The sale of and execution of any mineral lease under the provisions of this Act shall be binding in all respects as to all of the interest in the mineral and th.
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Sec. 8. In the event of the death, resignation, refusal or inability of the trustee to act, the court, upon its own motion or upon the motion of the depository, mineral.
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Sec. 9. (a) Regardless of whether there has been production of the severed mineral interest, if the owners of the severed mineral interests which are the subject of a t.
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Sec. 10. All attorneys' fees, expenses, and court costs incident to the proceedings authorized hereunder shall be paid by the lessee if a lease is executed pursuant here.
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Sec. 11. (a) Surface owners may gain title to severed mineral interests owned by unknown or missing owners under the theory of adverse possession in the following manner.
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Sec. 12. If any surface owner is named as a defendant and acquires an interest in the severed mineral interest by a judgement entered in accordance with subsection (g) o.
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Sec. 13. A trustee proceeding pursuant to Sections 3 through 8 may be commenced at any time prior to the entry of a judgment pursuant to Section 11, but if commenced aft.
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Sec. 14. This Act shall be liberally construed so that any deed issued pursuant to this Act shall convey merchantable title.
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Sec. 17. This Act shall be known and may be cited as the Severed Mineral Interest Act.
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