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Senate File 84

Partial Bill History

Bill Introduced: S.J. 198
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 16.91, subsection 5, unnumbered
  1  2 paragraph 2, Code 1999, is amended to read as follows:
  1  3    Additionally, each participating abstractor is required to
  1  4 own or lease, and maintain and use in the preparation of
  1  5 abstracts, an up-to-date abstract title plant including tract
  1  6 indices for real estate for each county in which abstracts are
  1  7 prepared for real property titles guaranteed by the division.
  1  8 The tract indices shall contain a reference to all instruments
  1  9 affecting the real estate which are recorded in the office of
  1 10 the county recorder, and shall commence not less than forty
  1 11 twenty years prior to the date the abstractor commences
  1 12 participation in the title guaranty program.  However, a
  1 13 participating attorney providing abstract services
  1 14 continuously from November 12, 1986, to the date of
  1 15 application, either personally or through persons under the
  1 16 attorney's supervision and control is exempt from the
  1 17 requirements of this paragraph.
  1 18    Sec. 2.  Section 614.29, subsection 5, Code 1999, is
  1 19 amended to read as follows:
  1 20    5.  "Root of title" means that conveyance or other title
  1 21 transaction or other link in the chain of title of a person,
  1 22 purporting to create the interest claimed by such person, upon
  1 23 which the person relies as a basis for the marketability of
  1 24 the person's title, and which was the most recent to be
  1 25 recorded or established as of a date forty twenty years prior
  1 26 to the time when marketability is being determined.  The
  1 27 effective date of the "root of title" is the date on which it
  1 28 is recorded.
  1 29    Sec. 3.  Section 614.31, Code 1999, is amended to read as
  1 30 follows:
  1 31    614.31  FORTY-YEAR TWENTY-YEAR CHAIN OF TITLE.
  1 32    Any person who has an unbroken chain of title of record to
  1 33 any interest in land for forty twenty years or more, shall be
  1 34 deemed to have a marketable record title to such interest as
  1 35 defined in section 614.29, subject only to the matters stated
  2  1 in section 614.32.  A person shall be deemed to have such an
  2  2 unbroken chain of title when the official public records
  2  3 disclose a conveyance or other title transaction, of record
  2  4 not less than forty twenty years at the time the marketability
  2  5 is to be determined, which said conveyance or other title
  2  6 transaction purports to create such interest, either in:
  2  7    1.  The person claiming such interest, or
  2  8    2.  Some other person from whom, by one or more conveyances
  2  9 or other title transactions of record, such purported interest
  2 10 has become vested in the person claiming such interest; with
  2 11 nothing appearing of record, in either case, purporting to
  2 12 divest such claimant of such purported interest.
  2 13    Sec. 4.  Section 614.32, subsection 2, Code 1999, is
  2 14 amended to read as follows:
  2 15    2.  All interest preserved by the filing of proper notice
  2 16 or by possession by the same owner continuously for a period
  2 17 of forty twenty years or more, in accordance with section
  2 18 614.34.
  2 19    Sec. 5.  Section 614.34, Code 1999, is amended to read as
  2 20 follows:
  2 21    614.34  PRESERVING INTEREST DURING FORTY-YEAR TWENTY-YEAR
  2 22 PERIOD.
  2 23    1.  Any person claiming an interest in land may preserve
  2 24 and keep effective such interest by filing for record during
  2 25 the forty-year twenty-year period immediately following the
  2 26 effective date of the root of title of the person whose record
  2 27 title would otherwise be marketable, a notice in writing duly
  2 28 verified by oath or affirmation setting forth the nature of
  2 29 the claim.  No disability or lack of knowledge of any kind on
  2 30 the part of anyone shall suspend the running of said forty-
  2 31 year twenty-year period.  Such notice may be filed for record
  2 32 by the claimant or by any other person acting on behalf of any
  2 33 claimant who is:
  2 34    a.  Under a disability,
  2 35    b.  Unable to assert a claim on the claimant's own behalf,
  3  1 or
  3  2    c.  One of a class, but whose identity cannot be
  3  3 established or is uncertain at the time of filing such notice
  3  4 of claim for record.
  3  5    2.  If the same record owner of any possessory interest in
  3  6 land has been in possession of such land continuously for a
  3  7 period of forty twenty years or more, during which period no
  3  8 title transaction with respect to such interest appears of
  3  9 record in the chain of title, and no notice has been filed by
  3 10 the record owner or on the record owner's behalf as provided
  3 11 in subsection 1, and such possession continues to the time
  3 12 when marketability is being determined, such period of
  3 13 possession shall be deemed equivalent to the filing of the
  3 14 notice immediately preceding the termination of the forty-year
  3 15 twenty-year period described in subsection 1.
  3 16    Sec. 6.  Section 614.38, Code 1999, is amended to read as
  3 17 follows:
  3 18    614.38  PERIOD EXTENSION IN CERTAIN CASES.
  3 19    If the forty-year twenty-year period specified in this
  3 20 division shall have expired prior to one year after July 1,
  3 21 1969 1998, such period shall be extended one year after July
  3 22 1, 1969 1998.  
  3 23                           EXPLANATION 
  3 24    This bill relates to the division on marketable record
  3 25 title within the Code chapter relating to limitations on civil
  3 26 actions.  The bill changes, throughout the division, the 40-
  3 27 year time period required to establish marketable record title
  3 28 to a 20-year time period.  Therefore, an unbroken chain of
  3 29 title for 20 years or more would establish a marketable record
  3 30 of title.
  3 31    A related change is also made to Code section 16.91,
  3 32 regarding the extent of tract indices that must be maintained
  3 33 by an abstractor participating in the title guaranty program.  
  3 34 LSB 1763SS 78
  3 35 jj/jw/5.1

Text: SF00083                           Text: SF00085
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Bills and Amendments: General Index     Bill History: General Index

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