Q: Do you have any update on the Marketable Record Title Act compliance dates, and I heard something about the Corporate Transparency Act? Can you explain how that affects community
Chapter 712, Florida Statutes, the Marketable Record Title Act (“MRTA”), presents a mortal risk to Florida homeowners association, potentially rendering them unable to levy and collect.
It is not unusual to find mineral reservations in the chain of title to real properties located in Florida. When the State of Florida first conveyed title to state owned lands, it was.
Grand Rapids Business Journal
Interests held in real property are often extremely valuable to the interest holders and can affect the character and uses of the land in which they are held. The validity and enforceability of such property interests in Michigan are governed by the Marketable Record Title Act.
On Dec. 29, Michigan effectively amended the Marketable Record Title Act and, in so doing, provided property interest holders in this state additional time to protect their interests before they are voided at the end of certain statutory periods.
How the amendment impacts property interest holders
Before the 2020 amendment, the Marketable Record Title Act generally provided that interests in real property were only valid against subsequent purchasers if they were based upon some act, transaction, event or omission that occurred within a 20-year period for mineral interests or a 40-year period for other interests. However, the act also stated that holders of older interests, wh