33 §132. Creation; conveyance; acceptance; duration; filing
Title 33: PROPERTY
Chapter 6-A: WORKING WATERFRONT COVENANTS HEADING: PL 2005, C. 574, §1 (NEW)
§132. Creation; conveyance; acceptance; duration; filing
1. Working waterfront covenant. Except as otherwise provided in this chapter, a working waterfront covenant may be created, conveyed, recorded, assigned, released, modified, terminated or otherwise altered or affected in the same manner as other real estate covenants created by written instrument.
[ 2005, c. 574, §1 (NEW) .]
2. Right or duty. A right or duty in favor of or against a qualified holder may not arise under a working waterfront covenant unless it is accepted in writing by the qualified holder.
[ 2005, c. 574, §1 (NEW) .]
3. Limitation. Except as provided in this chapter, a working waterfront covenant is unlimited in duration unless a change of circumstances renders the working waterfront covenant no longer in the public interest as determined in an action under section 133, subsection 2.
[ 2005, c. 574, §1 (NEW) .]
4. Filing. A working waterfront covenant must be recorded in the County Registry of Deeds, and a copy of the covenant must be filed with the Executive Department, State Planning Office together with a map showing with specificity the location of the affected real estate on the form or forms that the State Planning Office requires.
[ 2005, c. 574, §1 (NEW) .]
5. Other interest. An interest in real property in existence at the time a working waterfront covenant is created is not affected by the covenant unless the owner of the interest is a party to the covenant or consents to the covenant.
[ 2005, c. 574, §1 (NEW) .]
6. Right to enter land. The instrument creating a working waterfront covenant must provide for the right by the qualified holder to enter the real property to ensure compliance.
[ 2005, c. 574, §1 (NEW) .]
SECTION HISTORY
2005, c. 574, §1 (NEW).