Loading chat...
AL HB59
Bill
Status
2/7/2012
Primary Sponsor
Elaine Beech
Click for details
AI Summary
-
Mineral rights reservations made on or after the bill's effective date expire within 30 years from the date of reservation unless severance or extraction of minerals has begun before expiration.
-
The 30-year expiration period applies to all mineral rights made or contracted for on or after the effective date of this act.
-
Mineral rights do not expire if the holder has commenced severance or extraction of the minerals prior to the end of the 30-year period.
-
The act becomes effective on the first day of the third month following passage and approval by the Governor, or upon otherwise becoming law.
Legislative Description
Real property, mineral rights, revert to current property owner after 30 years under certain conditions
Property, Real and Personal
Last Action
Read for the first time and referred to the House of Representatives committee on Commerce and Small Business
2/7/2012