§ 1953. Effect of certain special limitations and conditions subsequent. 1. Except as provided in subdivision 4, a special limitation or condition subsequent created on or after September 1, 1958 shall be governed by this section in any case where it expressly or by necessary result restricts the use of land, but if such special limitation or condition subsequent also creates a possibility of reverter or right of entry conditioned upon an event other than breach of such a restriction, it shall be governed by this section to the extent only that the right of entry or possibility of reverter is conditioned upon breach of such express or implied restriction on the use of land.

2. No reverter shall occur and no possessory estate shall result by reason of such special limitation, and no right of entry shall accrue by reason of breach of such condition subsequent, but upon the happening of such a breach the person or persons who would have such possessory estate or right of entry except for this section, may maintain an action in the supreme court to compel a conveyance to him or them of the land, or the interest therein, which is subject to the special limitation or condition subsequent.

3. The relief provided in subdivision 2 shall be granted only to protect a substantial interest in enforcement of the restriction, established by the person or persons in whose favor the relief is granted. The action provided for in this section shall be subject to any defense that might be interposed in an action to enjoin a violation of the restriction if it were created by covenant of the person or persons against whom the relief is sought, and the court may deny such relief, or impose conditions upon the granting thereof, or grant alternative relief, upon like cause and in like manner as in an action for such injunction. If it appears that the relief provided in subdivision 2 would be inequitable, the court may, in lieu thereof, restrain the repetition or continuation of a breach of the restriction, or it may grant the relief provided in subdivision 2 upon such terms as justice may require to avoid a forfeiture of the value of improvements or other unjust enrichment.

4. This section shall not apply where the special limitation or condition subsequent was created in a conveyance or devise, whether or not in trust, for benevolent, charitable, educational, public or religious purposes and restricts the use of land to such a purpose or to a particular application or means of carrying out such purpose, or was created by a lease for a term of less than one hundred years and restricts use of the leased premises.