[§501-262]  Effect of deregistration.  (a) 
Upon the recordation in the bureau of conveyances of a certificate of title
pursuant to section 501-261:



(1)  The deregistered land shall no longer be
registered land for purposes of this chapter;



(2)  No instruments, documents, or papers relating
solely to deregistered land shall be filed or recorded with the assistant
registrar pursuant to this chapter, but shall instead be recorded in the bureau
of conveyances pursuant to chapter 502; and



(3)  Except as otherwise expressly provided in this
chapter, chapter 502 shall apply to the deregistered land.



(b)  Recordation of a certificate of title
pursuant to section 501-261 shall not disturb the effect of any proceedings in
the land court where the question of title has been determined.  All
proceedings had in connection with the registration of title that relate to the
settlement or determination of title before that recording, and all provisions
of this chapter that relate to the status of the title, shall have continuing
force and effect with respect to the period of time that title remained under
the land court system.  Those provisions giving rise to a right of action for
compensation from the State, including any limits on and conditions to the
recovery of compensation and the State's rights of subrogation with respect
thereto, shall also continue in force and effect with respect to the period of
time that title remained under the land court system. [L 2009, c 120, pt of §2]