|
Note 1 - Nature of Operations
|
12 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Nature of Operations [Text Block] |
(1)
Nature
of Operations
Texas
Pacific Land Trust (Trust) was organized under a
Declaration of Trust, dated February 1, 1888, to receive
and hold title to extensive tracts of land in the State of
Texas, previously the property of the Texas and Pacific
Railway Company, and to issue transferable Certificates of
Proprietary Interest pro rata to the original holders of
certain debt securities of the Texas and Pacific Railway
Company.
The
Trust is organized to manage land, including royalty
interests, for the benefit of its owners. The
Trust’s income is derived primarily from land sales,
oil and gas royalties, grazing and sundry leases, interest on
notes receivable, and interest on investments.
|