Definition of "Landowner's royalty"

Audrey Wiggins real estate agent

Written by

Audrey Wigginselite badge icon

Better Homes & Gardens Real Estate Lifestyle Property Partners

In the mining and petroleum industries, it is a portion of the profit secured from the extracted minerals or oil reserves from the property paid to the property owner. For example, a property owner in Texas and an independent oil company struck oil on the property after signing a contract agreeing to pay a 10% landowner's royalty on all profits secured from the oil recovered.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Six-by-six mile square area of land designated by the intersection of range lines and township lines in the rectangular survey system. ...

Portion of a deed that states the act and date of the transfer of the property. ...

Type of ownership by husband and wife, recognized in 27 states, in which the rights of the deceased spouse pass to the survivor. It is the same as joint tenancy, except that one spouse ...

Charge assessed a mortgagor by the mortgagee when assuming a pre-existing mortgage. The assumption fee is often included in the closing costs when purchasing property. ...

Agreement in which the contract price to build something is equal to the total costs incurred plus a predetermined profit. The profit may be based on a percentage of cost (e.g., 20% of ...

Looking for an amortization definition? Amortization is an accounting term that basically means something like “reducing the gap between what is owed”. Here’s the play by ...

Considering future occurrences that may possibly arise. ...

A rental contact in which the tenant's rental is tied to a change in the price level, such as the Gross National Price Deflator. ...

Keeps something under control, such as water and sand. It blocks natural flow and settling of earth. It performs the same function as a dam would for water. ...

Popular Real Estate Questions