CHAPTER 5. Powers of Termination [885.010. - 885.070.]

Chapter 5 added by Stats. 1982, Ch. 1268, Sec. 1.

§§ 885.010–885.070 · 8 sections

• § 885.010 (a) As used in this chapter: (1) “Power of termination” means the power to terminate a fee simple estate in real property to enforce a restriction in the form…
• § 885.015 This chapter does not apply to any of the following: (a) A power of termination conditioned upon the continued production or removal of oil or gas or other…
• § 885.020 Fees simple determinable and possibilities of reverter are abolished. Every estate that would be at common law a fee simple determinable is deemed to be a fee…
• § 885.030 (a) A power of termination of record expires at the later of the following times: (1) Thirty years after the date the instrument reserving, transferring, or…
• § 885.040 (a) If a power of termination becomes obsolete, the power expires. (b) As used in this section, a power of termination is obsolete if any of the following…
• § 885.050 A power of termination shall be exercised only by notice or by civil action and, if the power of termination is of record, the exercise shall be of record. The…
• § 885.060 (a) Expiration of a power of termination pursuant to this chapter makes the power unenforceable and is equivalent for all purposes to a termination of the…
• § 885.070 (a) Subject to Section 880.370 (grace period for recording notice) and except as otherwise provided in this section, this chapter applies on the operative date…