By Michael Reer ( June 1, 2020, 6:06 PM EDT) -- On May 15, the Texas Supreme Court issued an opinion in Yowell v. Granite Operating Co., which concerned a dispute over the continued validity of an anti-washout provision. The anti-washout provision at issue purported to extend overriding royalty interests to future leases. The Texas Supreme Court held that the anti-washout provision violated the rule against perpetuities, and must be reformed, if possible, in accordance with the Texas Property Code....
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