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Apr 16, 2024
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LND 102 - Real Property for Oil and Gas Industry
Credits: 4
4 Lecture Hours
Co-requisites: LND 101
Description
This course is a study of the principles of basic property law as it relates to the oil and natural gas industry. Discussion topics and instruction will include the elements of a deed, analysis of conveyances, types of ownership, mineral severance, legal descriptions and recording statutes. Emphasis on property law for the oil and natural gas industry will include additional discussion topics and instruction on oil, gas, coal and other mineral reservations typically utilized in conveyances in the Appalachian region.
Learning Outcomes
Upon successful completion of the course, the student will:
- Explain the basic concepts of the types of real property conveyances.
- Define the types of real property ownership.
- Describe how corporations, trusts, partnerships and agencies hold title to real property.
- Describe the limits of authority for corporations, partnerships and agencies in real property transactions.
- Identify the boundaries of a tract of land using a legal description and parcel identification number.
- Explain the basic concepts of recording statutes and recording requirements for real property.
Listed Topics
- Elements of a real property conveyance
- Types of conveyances
- Joint ownership
- Reservations
- Easements, permits, licenses and other surface use agreements
- Business, trust, agency and partnership authority
- Intestate succession in the Appalachian region
- Legal descriptions
- Legal descriptions in the Appalachian region
- Errors and remedies
- Federal, State and Native American lands
- Recording statutes and requirements
- Evolution of land ownership from English Law
Reference Materials
Instructor-approved textbook and materials.
Approved By: Bullock, Quintin Date Approved: 03/03/2015
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