9I.5 - LAND ACQUIRED BY DEVISE OR DESCENT.
9I.5 LAND ACQUIRED BY DEVISE OR DESCENT.Section History: Early Form
A nonresident alien, foreign business or foreign government, or an
agent, trustee or fiduciary thereof, which acquires agricultural land
or an interest in agricultural land, by devise or descent after
January 1, 1980, shall divest itself of all right, title and interest
in the land within two years from the date of acquiring the land or
interest. This section shall not require divestment of agricultural
land or an interest in agricultural land, acquired by devise or
descent from a nonresident alien, if such land or an interest in such
land was acquired by any nonresident alien prior to July 1, 1979.
Section History: Recent Form
[C73, § 1909; C97, § 2889; C24, 27, 31, 35, 39, § 10214; C46,
50, 54, 58, 62, 66, 71, 73, 75, 77, 79, § 567.1; C81, § 567.5]
2002 Acts, ch 1095, §10
C2003, §9I.5
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