overriding royalty

noun

Legal Definition of overriding royalty

: an interest in and royalty on the oil, gas, or minerals extracted from another's land that is carved out of the producer's working interest and is not tied to production costs — compare royalty

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“Overriding royalty.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/overriding%20royalty. Accessed 22 Jan. 2021.

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