§ 34-10-106 — Perpetuation of interest

(a) Any person claiming an interest in land may preserve
and keep effective his interest by filing for record during the
forty (40) year period immediately following the effective date
of the root of title of the person whose record title would
otherwise be marketable, a notice in writing, duly verified by
oath, setting forth the nature of the claim. No disability or
lack of knowledge of any kind on the part of anyone shall
suspend the running of the forty (40) year period. Notice may be
filed for record by the claimant or by any other person acting
on behalf of any claimant who is:
(i) Under a disability;
(ii) Unable to assert a claim on his own behalf; or
(iii) One (1) of a class, but whose identity cannot
be established or is uncertain at the time of filing the notice
of claim for record.
(b) If the same record owner of any possessory interest in
land has been in possession of the land continuously for a
period of forty (40) years or more, during which period no title
transaction with respect to the interest appears of record in
his chain of title, and no notice has been filed by him or on
his behalf as provided in subsection (a) of this section, and
his possession continues to the time when marketability is being
determined, the period of possession is equivalent to the filing
of the notice immediately preceding the termination of the forty
(40) year period described in subsection (a) of this section.