Property Ownership
North Dakota mineral rights can be leased to an oil company under what is commonly called a(n):
ASurface use agreement
BOil and gas lease✓ Correct
CEasement appurtenant
DMineral deed
Explanation
An oil and gas lease is the contractual instrument by which a mineral rights owner (lessor) grants an oil company (lessee) the right to explore for and produce oil and gas. Common in the Bakken formation of western North Dakota.
Related North Dakota Property Ownership Questions
- In North Dakota, a 'living trust' (revocable inter vivos trust) can be used to transfer real property upon death because:
- A North Dakota landowner grants a neighbor the right to cross their property to reach a public road. This is most likely a(n):
- A North Dakota landowner discovers their neighbor has been using a path across their property every summer for over 20 years openly and without permission. The neighbor may have acquired a(n):
- Which of the following BEST describes the bundle of rights associated with real property ownership?
- Adverse possession in North Dakota typically requires continuous and open occupation for at least:
- Under North Dakota's prior appropriation doctrine for water rights, which user has priority?
- In North Dakota, when a married couple holds title as 'joint tenants with right of survivorship,' what happens when one spouse dies?
- In North Dakota, a tenant who makes a substantial improvement to rented property, such as building a barn, may:
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