§501-264 Chain of title of deregistered land. (a) The chain of record title in the registered owner of any estate or interest in deregistered land shall, as of the date and time of deregistration, be subject only to the following and to the items described in subsection (d):
(b) The following shall, for purposes of part II of this chapter, be deemed to be noted on the uncertified fee time share interest certificate of title for a given fee time share interest:
(c) Nothing in subsection (b) is intended to alter the effect of any instruments, documents, or papers identified in subsection (b)(2) on the items noted in the certificate of title described in subsection (b)(1).
(d) As of the date and time of deregistration, the chain of title for deregistered land shall be subject only to the items described in subsection (a) and, in the case of a fee time share interest covered by an uncertified fee time share interest certificate of title, in subsection (b), and to the following:
(e) For purposes of this section, an encumbrance shall be deemed sufficiently noted on a certificate of title if the notation:
(f) All instruments, documents, and papers: noted on a certificate of title recorded in the bureau of conveyances pursuant to chapter 502 and part II of this chapter (in the case of land other than a fee time share interest); noted on a certified fee time share interest certificate of title; or noted or deemed to be noted on an uncertified fee time share interest certificate [of] title, shall have the same force and effect as if they had been recorded in the bureau of conveyances pursuant to chapter 502 as of the date, hour, and minute of reception noted on the certificate of title pursuant to section 501-107 or otherwise entered or required to be entered in the record of the assistant registrar pursuant to section 501-107; provided that:
(g) If a certificate of title for:
relates to more than one fee time share interest or more than one interest in other deregistered land, then subsections (a) to (d) shall apply to each interest separately and only those items described in subsections (a) to (d) that encumbered a particular interest as of the date and time of deregistration of that interest will continue to encumber that interest after the date and time of deregistration. [L 2009, c 120, pt of §2, §21; am L 2012, c 121, §6; am L 2013, c 119, §§8, 11; am L 2016, c 215, §6]