§2991.7. Rescission; method of making; effects as to third persons
A. Rescission of a sale of mineral rights by mail solicitation must be made by written
notice to the transferee and is effective between the parties when the notice of rescission is
transmitted.
B. If the instrument evidencing a sale of mineral rights by mail solicitation contains
the disclosure required by this Part, a third person acquiring an interest in mineral rights from
the transferee is subject to the effect of a notice of rescission filed within ninety days after
the date of the filing of the instrument. In all other cases, rescission may not impair the rights
of any third person who acquired an interest in the mineral rights prior to the time that the
notice of rescission was filed for registry.
C. A notice of rescission is without effect as to third persons unless it contains the
name of the transferee and the transferor.
Acts 2016, No. 179, §1, eff. May 19, 2016.