§ 34-4-24. Limitation of proceedings based upon right of entry for condition broken or possibility of reverter. (a)(1) No proceeding based upon any right of entry for condition broken or possibility of reverter to which a fee simple or fee simple determinable in land is subject, created before May 11, 1953, shall be maintained in any court after December 31, 1987, unless on or before December 31, 1987:

(i) The condition has been broken or the reverter has occurred, and a person or persons having the right of entry or reverter shall have taken possession of the land, or;

(ii) A person or persons having the right of entry, or who would have it if the condition were broken, or would be entitled to a right of entry if a reverter occurred or one of them if there be more than one, shall by himself or herself, or by his or her attorney, agent, guardian, conservator, or parent have filed in the town or city clerk's office or recorder of deeds office for the town or city in which the land is situated, a statement in writing, duly sworn to, describing the land, the nature of the right, the deed or other instrument creating it, and where it may be found, and naming the person or persons appearing of record to own the fee subject to the right or possibility.

(2) This statement shall be received and recorded upon payment of the fee required by law and shall be indexed in the grantor index under the person or persons named.

(b) This section shall apply to all rights described in subsection (a) whether or not the holder of the rights is under any disability or out of the state, and it shall apply notwithstanding any recitals in any recorded deed or other instrument unless a statement is filed as provided in subsection (a).

(c) Nothing in this section shall be construed to extend the period of any other applicable statute of limitations, or to authorize the bringing of any proceeding to enforce any right which has been or may be barred by lapse of time or for any other reason.

History of Section. (P.L. 1981, ch. 109, § 1; P.L. 1982, ch. 236, § 1; P.L. 1987, ch. 524, § 1.)