Overriding Royalty
Definition of "Overriding royalty"
Percentage of royalties derived from an oil and gas lease payable to someone other than the property lessor. It is a net royalty interest in the oil and gas recovered at the surface free of all operating expenses.
Popular Real Estate Terms
Same as term development: Process of developing an area by planning and building homes, shopping centers, schools or churches. The development process includes the construction of streets, ...
Governmental body that reviews property tax assessment procedures. ...
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