554.65 Right of termination; preservation; notice, recording.

176 words·~1 min read·/mi/chapter-554/554-65

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 5.

A right of termination may be preserved by the recording, within a period of not less than 25 nor more than 30 years after creation of the terminable interest or within 1 year after the effective date of this act, whichever is later, of a written notice that the owner of such right of termination desires to preserve the same, such notice to be recorded in the register of deeds office of the county where the real property subject to such right of termination is located. Such notice shall be verified by oath, shall describe the land involved and the nature of such right of termination, including the specified contingency, and shall state the name and address of the owner of such right of termination.

The recording of such notice shall operate to preserve such right of termination from the operation of this act for a period of 30 years from the date of recording of such notice.

History: 1968, Act 13, Imd. Eff. Mar. 29, 1968