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UNBUNDLING TEXAS MINERAL ESTATES: THE DUTY OF AN EXECUTIVE RIGHT HOLDER
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Journal Article
UNBUNDLING TEXAS MINERAL ESTATES: THE DUTY OF AN EXECUTIVE RIGHT HOLDER
2023
Overview
This paper addresses the issue of property rights of various types of interest holders. Specifically, the legal concept created by Justice Benjamin Cardozo, that property rights are like a \"bundle of sticks.\" One of the \"sticks\" is the executive right. The executive right is the right to authorize exploration and development of the mineral estate, or in layman's terms, the right to lease. The executive right comes with duties or obligations to the other interest holders. The court has been inconsistent in ruling on these duties and therefore it has been difficult to determine what are the exact duties that are owed. This paper examines the relevant court cases in this area of the law to determine what the current court decisions mean for executive right owners.
Publisher
Southern Academy of Legal Studies in Business
Subject
