Section 501-261.5 - Deregistration of registered land other than fee time share interests(a) To deregister land under this chapter, the registered owner of the fee interest in registered land shall submit the following to the assistant registrar: (1) A written request to deregister the registered land, proof of title insurance in the amount of the value of the land to be deregistered, and a written waiver of all claims against the State relating to the title to the land arising after the date of deregistration; and(2) A plan of the parcel or parcels sought to be deregistered that includes a map and description prepared by a licensed professional surveyor in accordance with sections 502-17, 502-18, and 502-19.(b) Upon satisfactory submission of the documents required pursuant to subsection (a), the assistant registrar shall refer the map and description of the parcel or parcels sought to be deregistered to the state land surveyor in the department of accounting and general services for approval after being checked as to form and mathematical correctness but not on the ground.(c) Upon notification of approval by the state land surveyor, the assistant registrar shall: (1) Record in the bureau of conveyances, pursuant to chapter 502, the current certificate of title for the fee interest in the registered land; provided that prior thereto, the assistant registrar shall note on the certificate of title all documents and instruments that have been accepted for registration and that have not yet been noted on the certificate of title for the registered land;(2) Record in the bureau of conveyances, pursuant to chapter 502, the written request for deregistration presented to the assistant registrar for filing or recording, which shall be recorded immediately after the certificate or certificates of title;(3) Cancel the certificate of title; and(4) Record in the bureau of conveyances, pursuant to chapter 502, a plan of the parcel or parcels sought to be deregistered, prepared in accordance with sections 502-17, 502-18, and 502-19.(d) The assistant registrar shall note the recordation and cancellation of the certificate of title in the registration book and in the records of the application for registration of the land that is the subject of the certificate of title. The notation shall state the: (1) Bureau of conveyances document number for the certificate of title recorded;(2) Certificate of title number; and(3) Land court application or consolidation number, map number, and lot number for the land that is the subject of the certificate of title recorded.(e) The assistant registrar shall transmit the notation of the recordation and cancellation of the certificate of title to the registrar of the land court and state land surveyor.(f) No order of court shall be required before or in connection with the performance of any of the foregoing actions.(g) As used in this section, "registered land" shall not include the undivided interest in the land unless the undivided interests represent all of the remaining registered interest in the land.Amended by L 2021, c 187,§ 2, eff. 7/1/2021.Amended by L 2016, c 39,§ 2, eff. 4/29/2016 (repeal date removed).Amended by L 2014, c 47,§ 3, eff. 4/23/2014.Repealed by L 2013, c 119,§ 13, eff. 12/31/2014, but later changed to 12/31/2016.Added by L 2013, c 119,§ 2, eff. 6/18/2013.