SB 185 – AS INTRODUCED
2005 SESSION
05/03
SENATE BILL 185
AN ACT relative to the possibility of reverter.
SPONSORS: Sen. Larsen, Dist 15; Sen. Kenney, Dist 3; Sen. Burling, Dist 5; Sen. Martel, Dist 18; Sen. Gallus, Dist 1; Rep. Emerton, Hills 7
This bill establishes a 40-year statute of limitations for an interest in property known as the possibility of reverter or right of re-entry for breach of a condition subsequent.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05-0959
05/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Five
AN ACT relative to the possibility of reverter.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Probate Court Jurisdiction; Possibility of Reverter, Right of Re-Entry. Amend RSA 547 by inserting after section 3-k the following new section:
547:3-l Possibility of Reverter; Right of Re-Entry. Neither the possibility of reverter nor the right of entry or re-entry for breach of condition subsequent, where the condition has not been breached, shall be valid for a longer period than 40 years from the date of the creation of the condition or possibility of reverter. If such a possibility of reverter or right of entry or re-entry is created to endure for a longer period than 40 years, it shall be valid for 40 years.
2 New Section; Trustees of Estates; Possibility of Reverter. Amend RSA 564 by inserting after section 24 the following new section:
564:25 Possiblity of Reverter; Right of Re-Entry. Neither the possibility of reverter nor the right of entry or re-entry for breach of condition subsequent, where the condition has not been breached, shall be valid for a longer period than 40 years from the date of the creation of the condition or possibility of reverter. If such a possibility of reverter or right of entry or re-entry is created to endure for a longer period than 40 years, it shall be valid for 40 years.
3 Applicability.
I. If a possibility of reverter was created more than 40 years prior to January 1, 2006 and the reverter comes into existence prior to January 1, 2006, no person shall commence an action for the recovery of the land or any part thereof based upon such right after January 1, 2007.
II. If a right of entry or re-entry for breach of condition subsequent was created more than 40 years before January 1, 2006, and the condition is breached before January 1, 2006, no person shall commence an action for the land or any part thereof based upon such right after January 1, 2007, unless entry or re-entry has been made to enforce the right before January 1, 2007.
4 Effective Date. This act shall take effect January 1, 2006.