§ 34-13.1-5 - Notice of claim filed within forty (40) year period.
SECTION 34-13.1-5
§ 34-13.1-5 Notice of claim filed withinforty (40) year period. – (a) Any person claiming an interest of any kind in land may preserve and keepeffective that interest by recording, during the forty (40) year periodimmediately following the effective date of the root title of the person whoserecord title would otherwise be marketable, a notice in writing, duly verifiedby oath, setting forth the nature of the claim. No disability or lack ofknowledge of any kind on the part of anyone suspends the running of the forty(40) year period. Such notice may be recorded by the claimant or by any otherperson acting on behalf of any claimant who is: (1) Under a disability (2)unable to assert a claim on his or her own behalf or (3) one of a class, butwhose identity cannot be established or is uncertain at the time of filing suchnotice of claim record.
(b) If the same record owner of any possessory interest inland has been in possession of that land continuously for a period of forty(40) years or more, during which period no title transaction with respect tothe interest appears of record in his or her chain of title and no notice hasbeen recorded by him or her on his or her behalf as provided in subsection (a)of this section, and the possession continues to the time when marketability isbeing determined, that period of possession shall be deemed equivalent to therecording of the notice immediately preceding the termination of the forty (40)year period described in subsection (a) of this section.