Sections
8 entriesSection 885.010Defines “power of termination” broadly as an interest in real property allowing termination of a fee simple to enforce specified conditions or…Section 885.015Exempts from the power-of-termination chapter a power conditioned on continued production or removal of oil, gas, or other minerals. It also exempts…Section 885.020Establishes that common-law fees simple determinable and possibilities of reverter are abolished and converted into the statutory forms described by the provision.…Section 885.030Sets a recorded power of termination to expire at the latest applicable 30-year period measured from the recorded instrument or a timely…Section 885.040Establishes that a power of termination expires when it becomes obsolete because the restriction provides no actual substantial benefit, enforcement would not…Section 885.050Requires a power of termination to be exercised only by notice or civil action and, when the power is recorded, requires the…Section 885.060Sets expiration of a power of termination as automatically terminating and quitclaiming the power and making the related restriction unenforceable without a…Section 885.070Sets the chapter to apply to powers of termination regardless of when executed or recorded, subject to the recording grace period and…