Senate Bill No. 730
(By Senators Sprouse and Guills)
____________
[Introduced February 20, 2006; referred to the Committee
on the Judiciary.]
____________
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §36-1-25, relating to
limiting the time an heir to real estate has to challenge a
transfer of the real estate.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §36-1-25, to read as
follows:
ARTICLE 1. CREATION OF ESTATES GENERALLY.
§36-1-25. Two years for heirs to contest transfer of real estate.
Notwithstanding any provision of this code or the common law
to the contrary, a good faith purchaser for value who is
transferred a fee interest in real estate from a person who holds
the real estate under color of title and who has been assessed and
paid the property tax due on the real estate, acquires good title to the real estate unless an heir to the real estate successfully
contests the transfer within two years from the date of the
transfer.
NOTE: The purpose of this bill is to
limit the time an heir to
real estate has to challenge a transfer of the real estate.
This section is new; therefore, strike-throughs and
underscoring have been omitted.