mineral lease

mineral lease definition - legal

n

The right given to use land for purpose of exploration, specifically for minerals, with concommitent right to remove minerals, if found, for a finite period of time, or indefinitely, upon payment of royalties to the landowner.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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