• Black Stone Mineral Co, LP v Michigan Department of Treasury
The Black Stone case challenged the State's claim to oil and gas rights acquired by foreclosure of delinquent property taxes where oil and gas rights were owned separately, or "severed" from the surface ownership and whether owners of severed mineral rights were entitled to notification of the foreclosure. At its hearing on July 3, 2007, the Antrim County Circuit Court approved the settlement agreement (Settlement) reached by the parties. The terms of the Settlement include the return of previously severed oil and gas rights to the class members, for those oil and gas severed rights thought to have been acquired by the State through tax foreclosures occurring after 1975. The State will also relinquish any claim to bonus, rent, royalties, and suspended royalties to the class parcels, as well as, "take all reasonable steps... to assist Class Counsel in the recovery of Suspended Revenues held by the operators, owners, or producers on lands covered by the State Leases." |
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