Sec. 2. An interest in coal, oil and gas, and other minerals, if unused for a period of twenty (20) years, is extinguished and the ownership reverts to the owner of the interest out of which the interest in coal, oil and gas, and other minerals was carved. However, if a statement of claim is filed in accordance with this chapter, the reversion does not occur.
[Pre-2002 Recodification Citation: 32-5-11-1.]
As added by P.L.2-2002, SEC.8.
Structure Indiana Code
Article 23. Conveyance of Property Interests Less Than Fee Simple
Chapter 10. Lapse of Mineral Interest
32-23-10-1. "Mineral Interest" Defined
32-23-10-2. Statement of Claims; Filing; Reversion
32-23-10-3. Presumption of Use
32-23-10-4. Statement of Claim; Filing; Time
32-23-10-5. Statement of Claim; Failure to File
32-23-10-6. Notice; Lapse of Interest