term overriding royalty

(56A) The term “term overriding royalty” means an interest in liquid or gaseous hydrocarbons in place or to be produced from particular real property that entitles the owner thereof to a share of production, or the value thereof, for a term limited by time, quantity, or value realized.

Source

11 USC § 101(56A)

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Scoping language

None identified, default scope is assumed to be the parent (chapter 1) of this section.

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