royalty interest

royalty interest. Oil & gas. A share of production — or the value or proceeds of production, free of the costs of production — when and if there is production. • A royalty interest is usu. expressed as a fraction (such as 1/6). A royalty-interest owner has no right to operate the property and therefore no right to lease the property or to share in bonuses or delay rentals. In some states a royalty owner has the right of ingress and egress to take the royalty production. Authorities are split over what costs are costs of production. Several different but related kinds of royalty interests are commonly encountered. See ROYALTY(2).

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词条贡献者

资深译员Steven，毕业于美国一流的高级翻译学院，专注翻译各种与政府政策有关的法律文件。