Rhode Island General Laws 34-4-20. Possibilities of reverter and rights of entry exempt from limitation
Current as of: 2023 | Check for updates
|
Other versions
Section 34-4-19 shall not apply to a possibility of reverter or right of entry for condition broken in:
(1) Lease for a term of years;
(2) Grant, gift or devise to the state;
(3) Grant, gift or devise for public, charitable, or religious purposes;
(4) Deed to a railroad or public utility corporation;
(5) Housing restriction as set forth in § 34-39.1-3.
History of Section.
G.L., 1938, ch. 435, § 23; P.L. 1953, ch. 3213, § 1; G.L. 1956, § 34-4-20; P.L. 2006, ch. 368, § 1; P.L. 2006, ch. 464, § 1.
Terms Used In Rhode Island General Laws 34-4-20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.