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Senate approves notice-of-conveyance requirement for carbon-sequestration leases; floor debate flags title-search and reservation issues
Summary
Senators approved a bill to require recording a notice when an interest related to carbon sequestration or carbon-credit leases is conveyed, a step sponsors said will make title searches clearer. Floor debate focused on how the notice interacts with existing reservations, mineral interests and pipeline projects.
The Senate passed a measure that creates a notice-of-conveyance requirement for carbon-sequestration or carbon-credit interests that are conveyed against real property. The sponsor and floor witnesses framed the change as a narrow, notice-only recording requirement so that buyers and title searchers can see whether a carbon lease exists on a tract of land.
Why it matters: Carbon-sequestration and carbon-credit transactions are a growing market for landowners, timber owners and companies buying sequestration rights. The bill’s…
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