5047b

Persons who validly obtained an ownership title for lands located at the District may elect to exchange the same with the Land Trust for the recognition of surface rights, which shall be attested in a public deed to be recorded in the Property Registry within a term not to exceed twenty-four (24) months after the approval of this Act. Such surface rights shall not be subject to the restrictions on alienation provided by the titles granted under Act No. 32-2009, as amended. Neither shall they be subject to the restrictions imposed by §§ 751 et seq. of Title 1. Such transfer to the Land Trust or the difference in value of the exchanged rights shall not be considered a gift nor have the legal effect associated with that form of acquiring land. History —Sept. 24, 2004, No. 489, added as § 21 on Aug. 14, 2013, No. 104, § 14.