§ 34-4-26 - Expiration of recorded rights affecting real estate.
SECTION 34-4-26
§ 34-4-26 Expiration of recorded rightsaffecting real estate. – (a) Any recorded contract, deed or other instrument entered into which createsa preemptive right, right to repurchase, or a right of first refusal topurchase real estate, other than housing restrictions as set forth in §34-39.1-3, and conservation restrictions and preservation restrictions as setforth in §§ 34-39-3 and 34-39-4, which by its own terms, does notprovide for a specific expiration date, shall expire ten (10) years after thedate of execution, or ten (10) years after recording, if no date of executionis contained in the instrument. If these rights are created under a lease, thenthe rights shall expire on the termination or expiration of the lease.
(b) Any rights created prior to the passage of this act maybe extended for a period of ten (10) years by refiling a Notice of Intention toextend said rights in the Land Evidence Records prior to July 1, 1991.