755 ILCS 5/20-20
2021 Illinois Compiled Statutes|Chapter 755 - ESTATES|755 ILCS 5/ - Probate Act of 1975.|Article XX - Administration Of Real Estate

 (from Ch. 110 1/2, par. 20-20)Sec. 20-20.         Leasing for oil, gas, coal and other mineral  developments.)  (a)  A representative may lease for oil, gas, coal or  other mineral development, the real estate or any interest in real  estate of the decedent or the ward upon such terms and conditions as the  court may authorize. This includes the authority to join or participate  in a cooperative coal marketing  association or similar entity.(b) The lease for oil, gas and other minerals, except coal, may be for  a term not exceeding 10 years and for as  long thereafter as oil, gas, or other minerals except coal,  may be produced from  the premises embraced in the lease even though in the case of a ward the  term of the lease may exceed the period of disability of the ward. The lease  for coal or participation in a cooperative coal marketing association  or similar entity, may be for a term not exceeding 15 years and for as long  thereafter as coal may be produced from the mining area described in the  lease or the cooperative coal marketing association agreement even though  in the case of a ward the term of the lease or the cooperative coal  marketing association may exceed the period of disability of the ward.(c) The representative shall file in the court of the county where  his letters were issued, a petition for authority to lease the real  estate or interest therein for oil, gas, coal or other mineral  development.  The petition must set forth the description of the real  estate or interest therein to be leased and the reasons it is for the  best interests of the estate of the decedent or the ward to enter into  the lease.  A copy of the proposed lease must be attached to the  petition.(d) Upon the filing of the petition, the court shall set it for  hearing not less than 10 days thereafter.  It is the duty of the  petitioner to mail a notice of the hearing and a copy of the petition to  the heirs or legatees of the decedent or to the ward, as the case may be,  not less than 5 days before the hearing. No guardian ad litem need be appointed  for any ward unless the court finds it necessary for his protection.(e) Upon the hearing the court may authorize the representative to  execute and deliver a lease of the real estate or interest therein by a  private letting with the proposed lessee on the form proposed or such  form as is satisfactory to the court, or the court may order the leasing  of the real estate or interest therein to be conducted at a public  letting.  If a public letting is ordered, the court shall designate the  time, place and manner of holding the letting and the time and manner in  which notice thereof shall be given.  In case of a public letting, it is  the duty of the representative to file with the court, within 10 days  after the letting, a verified report describing the real estate or  interest therein let, the name of the lessee, the terms of the letting,  and the manner in which the terms of the order of the court were  executed.  Within 5 days after the time for filing the report has  expired any person interested in the property leased may file objections  to the report.  Upon the hearing, the court may approve the report,  confirm the letting, and authorize the representative to execute and  deliver the lease or disapprove the report and order the property to be  reoffered.  When the making of a lease has been authorized as provided  in this Section, it shall be executed by the representative and shall be  valid and binding.(f) Upon the filing of a petition and upon such notice as the court  directs, the court may authorize a representative who has leased the  real estate or interest therein of the decedent or ward for oil, gas,  coal or other mineral purposes to enter into agreements unitizing any  part or all of the real estate or interest therein so leased with  adjacent lands so that the entire unitized tract may be developed and  operated as a unit for the production of oil, gas, coal and other  minerals, or any of them.  In like manner, the court may authorize a  representative to execute agreements supplemental to or amendatory of  any oil, gas, coal or mineral leases, including without being limited to  agreements relating to secondary recovery operations on the lands of the  decedent or ward alone or in conjunction with other lands.(g) The court may authorize a representative to sell upon such terms  as the court directs all or any part of the oil, gas, coal or other  mineral estate reserved to the lessor in any lease, including all or  part of the royalty or other income reserved to the lessor by the lease,  by following the procedure provided in this Act for the sale of real  estate.    (Source: P.A. 81-401.)