Limitation on third-party liability for damage to property--Vesting of title.

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34A-15-4. Limitation on third-party liability for damage to property--Vesting of title.

No lender-owner or representative may by virtue of becoming the owner of real or personal property be liable for any third-party liability arising from contamination or pollution emanating from the property before the date the title vests in the lender-owner or representative. For the purposes of this chapter, the issuance of a sheriff's certificate of sale is not sufficient to vest title in the lender-owner or representative.

Source: SL 1992, ch 261, §4.


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