Royalty Interest
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What does Royalty Interest mean? Read on to discover the definition & meaning of the term Royalty Interest - to help you better understand the language used in insurance policies.
Royalty Interest
Ownership of a portion of the resource or revenue produced from the leased property. Typically, the owner of the leased property retains a royalty interest. The party with the royalty interest is not responsible for the costs and liabilities associated with the exploration, development, and operation of a well.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
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