(a) A notice of commencement of real estate improvements signed by the owner may be recorded.
(b) The notice of commencement shall be denominated “notice of commencement” and shall state:
(1) the real estate being improved, with a description thereof sufficient for identification;
(2) the name and address of the owner, his interest in the real estate, and the name and address of the fee simple title holder, if other than the owner filing the notice of commencement;
(3) the name and address of the person to whom notifications concerning construction liens may be given.
(c) Except as provided in subsection (e), a notice of commencement continues effective for a period of five years from the date it is recorded.
(d) A notice of commencement is effective as to all improvements made on real estate whether or not they were contemplated at the time of the recording.
(e) The owner may terminate the period of effectiveness of a notice of commencement by filing a notice of termination which contains:
(1) the same information as the notice of commencement;
(2) the recording office document reference number and date of the notice of commencement; and
(3) a statement of the date as of which the notice of commencement is terminated, which date may not be earlier than 30 days after the notice of termination is filed. The notice of termination may apply to all or any portion of the real estate subject to the notice of commencement.
(f) The notice of termination is effective to terminate the notice of commencement at the later of [sic] 30 days after filing of the notice of commencement or the date stated in the notice of termination as the date on which the notice of commencement is terminated.