Section 11-8-59 - Restriction on lease or reconveyance in conveyance to purchaser or lessee of urban renewal property

11-8-59. Restriction on lease or reconveyance in conveyance to purchaser or lessee of urban renewal property.The municipality in any instrument of conveyance to a private purchaser or lessee may provide that such purchaser or lessee shall be without power to sell, lease, or otherwise transfer the real property without the prior written consent of the municipality until he has completed the construction of any or all improvements which he has obligated himself to construct thereon. Source: SL 1966, ch 149, §10 (1).