North Carolina § 121-38 - Validity of agreements.

§ 121-38. Validity of agreements.

No conservation or preservation agreement shall be unenforceable because of Lack of privity of estate or contract, or Lack of benefit to particular land or person, or The assignability of the benefit to another holder as defined in this Article. These agreements are interests in land and may be acquired by any holder in the same manner as it may acquire other interests in land. These agreements may be effective perpetually or for shorter stipulated periods of time. These agreements may impose present, future, or continuing obligations on either party to the agreement, or their successors, in furtherance of the purposes of the agreement. These agreements may contain provisions which require the payment of a fee upon a future conveyance of the property that is subject to the agreement. History (1979, c. 747, s. 5; 2008-165, s. 1.) Editor's Note. - Session Laws 2008-165, s. 4, is a severability clause. Session Laws 2008-165, s. 5, provides: "This act is effective when it becomes law [August 3, 2008]. Sections 2 and 3 of this act expire July 1, 2013. The expiration does not affect the validity of assessments imposed or bonds issued or authorized under the provisions of this act prior to the effective date of the expiration." Effect of Amendments. - Session Laws 2008-165, s. 1, effective August 3, 2008, substituted "These" for "Such" throughout the section; and added subsection (e). Legal Periodicals. - For article, "Private Land Use Controls: Enforcement Problems with Real Covenants and Equitable Servitudes in North Carolina," see 22 Wake Forest L. Rev. 749 (1987).