706.057 Lapse and reversion of interests in minerals.
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706.057 Lapse and reversion of interests in minerals.
(1)Applicability. This section does not apply to an interest in minerals which is owned by the same person who owns the fee simple interest in the surface of the land above the interest in minerals.
(2)Use of an interest in minerals. In this section, an interest in minerals is used if any of the following occur:
(a)Any minerals are mined in exploitation of the interest in minerals.
(b)A conveyance of mineral interests is recorded under this chapter.
(c)Any other conveyance evidencing a transaction by which the interest in minerals is created, aliened, reserved, mortgaged or assigned is recorded under this chapter.
(d)Property taxes are paid on the interest in minerals by the owner of the interest in minerals.