California Civil Code 885.070 – (a) Subject to Section 880.370 (grace period for recording …
(a) Subject to Section 880.370 (grace period for recording notice) and except as otherwise provided in this section, this chapter applies on the operative date to all powers of termination, whether executed or recorded before, on, or after the operative date.
(b) If breach of the restriction to which the fee simple estate is subject occurred before the operative date of this chapter and the power of termination is not exercised before the operative date of this chapter, the power of termination shall be exercised, or in the case of a power of termination of record, exercised of record, within the earlier of the following times:
Terms Used In California Civil Code 885.070
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Power of termination: includes the power created in a transferee to terminate a fee simple estate in real property to enforce a restriction on the use of the real property in the form of a limitation or condition subsequent to which the fee simple estate is subject, whether the power is characterized in the instrument that creates or evidences it as an executory interest, executory limitation, or otherwise, and includes the interest known at common law as an executory interest preceded by a fee simple determinable. See California Civil Code 885.010
(1) The time that would be applicable pursuant to the law in effect immediately prior to the operative date of this chapter.
(2) Five years after the operative date of this chapter.
(c) As used in this section, “operative date” means the operative date of this chapter as enacted or, with respect to any amendment of a section of this chapter, the operative date of the amendment.
(Amended by Stats. 1991, Ch. 156, Sec. 17.)