Burket v. Commissioner
United States Board of Tax Appeals
1. A "royalty interest" under an oil and gas lease is an interest issuing out of the land and a part of the lessor's estate, the assignment of which must be evidenced by a writing to satisfy the statute of frauds. 2. The transfer of a part of such royalty interest to petitioners occurred on December 20, 1922, and the respondent's computation of depletion deductions based on a discovery value fixed by the first discovery thereafter on January 30, 1923, is approved.
1Opinion of the Court
F. O. BURKET, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
F. O. BURKET, TRUSTEE FOR FLAVIUS O. BURKET, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Burket v. Commissioner
Docket Nos. 36963, 36962.
United States Board of Tax Appeals
18 B.T.A. 1062; 1930 BTA LEXIS 2537;
February 7, 1930, Promulgated
1. A "royalty interest" under an oil and gas lease is an interest issuing out of the land and a part of the lessor's estate, the assignment of which must be evidenced by a writing to satisfy the statute of frauds.
2. The transfer of a part of such royalty interest to…
2Cases cited31 opinions
- Von Baumbach v. Sargent Land Co.Supreme Court of the United States · 1917
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
- Ohio Oil Company v. IndianaSupreme Court of the United States · 1900
- Hamilton v. RathboneSupreme Court of the United States · 1899
- Rich v. DonegheySupreme Court of Oklahoma · 1918
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