Okla. Stat. tit. 58, § 58-929.1
This is the official text of Okla. Stat. tit. 58, § 58-929.1, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Sales and agreements by administrators and executors -
Official statutory text
Approval.
Administrators and executors of the estates of deceased persons
and guardians of the estates of minors and incompetents are hereby
authorized to sell, as hereinafter provided, oil and gas and mineral
leaseholds, or any part hereof, owned by the estate of said deceased
Oklahoma Statutes - Title 58. Probate Procedure Page 129
person, or by said minor or incompetent and, in connection with said
sale, or independently thereof, to enter into transactions and to
execute all instruments necessary or advantageous to the estate of
said decedent or ward in the operation or development of any oil and
gas and mineral leasehold, or any part thereof, owned by the estate
of said decedent or ward, including but not limited to joint
operating agreements, unitization agreements, repressuring
agreements and water-flooding agreements. The term "sale" as used
in this act shall not be limited to sales for a cash consideration
but may include sales made in consideration of a drilling
obligation, oil payment, overriding royalty, exchange of oil and gas
and mineral leaseholds, or such other consideration as the court
shall find to be for the best interest of the estate of said
decedent or ward. All such sales and agreements shall be subject to
the approval of the district court in which said administration or
guardianship proceedings are pending. If the will of any such
deceased person empowers the executor to sell real property, it
shall not be necessary for the executor, or the administrator with
the will annexed, to comply with this act; but in such case the
sales and agreements authorized by this act shall be deemed to be
sales of property and subject to the provision of Section 462 of
Title 58, Oklahoma Statutes 1961.
Administrators and executors of the estates of deceased persons
and guardians of the estates of minors and incompetents are hereby
authorized to sell, as hereinafter provided, oil and gas and mineral
leaseholds, or any part hereof, owned by the estate of said deceased
Oklahoma Statutes - Title 58. Probate Procedure Page 129
person, or by said minor or incompetent and, in connection with said
sale, or independently thereof, to enter into transactions and to
execute all instruments necessary or advantageous to the estate of
said decedent or ward in the operation or development of any oil and
gas and mineral leasehold, or any part thereof, owned by the estate
of said decedent or ward, including but not limited to joint
operating agreements, unitization agreements, repressuring
agreements and water-flooding agreements. The term "sale" as used
in this act shall not be limited to sales for a cash consideration
but may include sales made in consideration of a drilling
obligation, oil payment, overriding royalty, exchange of oil and gas
and mineral leaseholds, or such other consideration as the court
shall find to be for the best interest of the estate of said
decedent or ward. All such sales and agreements shall be subject to
the approval of the district court in which said administration or
guardianship proceedings are pending. If the will of any such
deceased person empowers the executor to sell real property, it
shall not be necessary for the executor, or the administrator with
the will annexed, to comply with this act; but in such case the
sales and agreements authorized by this act shall be deemed to be
sales of property and subject to the provision of Section 462 of
Title 58, Oklahoma Statutes 1961.
Status: in_force · Read it on the official government site
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