These laws eliminate a time gap that allowed a recorded notice of an option to purchase property to unnecessarily cloud title after the option itself expired.
Civil Code § 884.010
Added by S.B. 284
Effective: January 1, 2012
If no conveyance, contract or other instrument is recorded to give notice an option to purchase property has been exercised or extended, a recorded option expires as follows:
- six months after the option expires as reflected by the terms in the recorded option; or
- six months after the date the instrument that creates or gives constructive notice of the option is recorded, if the recorded option does not state an expiration date.
On January 1, 2013 this section will be repealed and replaced with the following:
Civil Code § 884.010
Added by S.B. 284
Effective: January 1, 2013
If no conveyance, contract or other instrument is recorded to give notice an option to purchase property has been exercised or extended, the option expires as follows:
- six months after the option expires according to its terms, if the expiration date of the option can be determined from the recorded instrument; or
- six months after the date the instrument that creates or gives constructive notice of the option is recorded, if the expiration date of the option cannot be determined from the recorded instrument.
