Royalty and Royalty Interests: Royalty Deed Limitations of Action

摘要

In June 1926, the Richardsons execute two deeds conveying a "1/4th interest in and to all the oil, gas and other minerals in and under and that may be produced from . . ." The grantee, a month later, conveys a "2/9th of 1/4th interest in and to all the oil, gas and other minerals in and under and that may be produced from . . ." In 1932, all of the deeds are subject to a correction deed. The correction deed, which is executed after the leases that had been in existence in 1926 expired, provided that the parties intended to convey a 1/4 interest in the minerals that being defined as a l/32nd of gross production. In November 1999, Hamilton executes an oil and gas lease with EOG Resources in which Hamilton reserves a 1/4 royalty.