perpetual non-participating royalty

perpetual non-participating royalty
A right to royalties on oil and gas produced which is reserved or granted before any oil and gas lease is executed, granting or reserving no right to participate in the making of future leases. Denver Joint Stock Land Bank v Dixon, 57 Wyo 523, 122 P2d 842, 140 ALR 1270.

Ballentine's law dictionary. . 1998.

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