617.2105 Corporation issued a deed to real property.
133 words·~1 min read·
/fl/title-xxxvi/chapter-617/617-2105·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a corporation or foreign corporation subject to this chapter is issued a deed to real property in the state by the Board of Trustees of the Internal Improvement Trust Fund containing a reverter clause that restricts the use of property to specified uses in the deed, the failure to put the property to the required use within a period of 3 years after the grant, unless a stricter time period is contained in the deed, is prima facie evidence that the restriction is violated, subjecting the property to reversion to the Board of Trustees of the Internal Improvement Trust Fund at its discretion.
This section applies retroactively and prospectively and may not be construed to excuse for any period of time a use of the property in violation of the restrictive use.