Bill No.: HB0012                  Drafter:  DKG

 

LSO No.:  12LSO-0032              Effective Date:  July 1, 2012

 

Enrolled Act No.:  HEA0002

 

Chapter No.:       CH0002

 

Prime Sponsor:     Representative Brown

 

Catch Title:       Marketable title act-conservation easements.

 

Subject:           Marketable title act applicability to conservation easements.

 

Summary/Major Elements:

 

·         The marketable title act was enacted in 1975 to facilitate land title transactions by allowing persons to rely on a record chain of title by clearing the title of interests not of record for a specified period.  There are currently some exceptions to the marketable title act.

 

·         This act provides that the marketable title act shall not be applied to bar or extinguish any claim to a conservation easement, but specifies that the provisions of the uniform conservation easement act (which allows nonpossessory interests of unlimited duration) shall be applicable.