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Right-of-way surface easements
December 9, 2022
Q. We have ROW surface easement agreements that have terms less than 30 years, which would be reported on the 1099-MISC. However, the easement/agreement is renewable with term extension examples: "for so long thereafter as the pipeline is being used by Grantee" or "Option to extend for additional terms of ten years providing Grantor prior written notice no later than 30 days..."
Are these terms then considered greater than 30 years/perpetual automatically because they are renewable? Or are…
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