§ 6510 — Amendment or termination by consent

(a) Signature.--An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by all of the following:

(1) The agency.

(2) Unless waived by the agency, the current owner in fee simple of the real property subject to the environmental covenant.

(3) Each person that originally signed the environmental covenant or that person's successor in interest unless:

(i) the person waived the right to consent in a signed record; or

(ii) a court finds that the person no longer exists or cannot be located or identified with the exercise of reasonable diligence.

(4) Except as otherwise provided in subsection (d)(2), the holder.

(b) Effect upon property interests subject to environmental covenants.--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:

(1) consents to the amendment; or

(2) has waived in a signed record the right to consent to the amendment.

(c) Effect of assignment.--Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder is an amendment.

(d) Assignment requirements.--Except as otherwise provided in the environmental covenant:

(1) a holder may not assign its interest without consent of the other parties;

(2) a holder may be removed and replaced by agreement of the other parties specified in subsection (a); and

(3) a court of competent jurisdiction may fill a vacancy in the position of holder.

Legislative History

Cross References.Section 6510 is referred to in sections 6504, 6508, 6509 of this title.