§ 38 §3010 — Amendment or termination by consent

1.
Amendment or termination.
An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by:
2.
Effect of amendment of covenant.
If an interest in real property is subject to an environmental covenant, the interest is not affected by an amendment of the covenant unless the current owner of the interest consents to the amendment or has waived in a signed record the right to consent to amendments.
3.
Assignment to new holder.
Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder is an amendment.
4.
Assignment by holder; removal and replacement of holder.
Except as otherwise provided in an environmental covenant:
5.
Vacancy filled by court.
A court of competent jurisdiction may fill a vacancy in the position of holder.

Legislative History

PL 2005, c. 370, §1 (NEW).