Bill Text: MS SB2008 | 2025 | Regular Session | Comm Sub
Bill Title: Carbon leases; require to be filed in the land record when separated from surface rights.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2025-01-29 - Title Suff Do Pass Comm Sub [SB2008 Detail]
Download: Mississippi-2025-SB2008-Comm_Sub.html
MISSISSIPPI LEGISLATURE
2025 Regular Session
To: Forestry
By: Senator(s) McCaughn
Senate Bill 2008
(COMMITTEE SUBSTITUTE)
AN ACT TO REQUIRE THE CONVEYANCE OF AN INTEREST RELATING TO A CARBON CREDIT OR SEQUESTRATION BE RECORDED AS AN INTEREST IN LAND; TO BRING FORWARD SECTIONS 89-5-1 AND 89-5-3, MISSISSIPPI CODE OF 1972, WHICH RELATE TO THE RECORDING OF INSTRUMENTS, FOR PURPOSES OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The notice of conveyance of an interest relating to a carbon credit or carbon sequestration shall be recorded as an interest in land as required in Chapter 5, Title 89, Mississippi Code of 1972.
SECTION 2. Section 89-5-1, Mississippi Code of 1972, is brought forward as follows:
89-5-1. Except as provided by Sections 89-5-101 through
89-5-113, a conveyance of land shall not be good against a purchaser for a valuable consideration without notice, or any creditor, unless it be lodged with the clerk of the chancery court of the county in which the lands are situated to be recorded; but after filing with the clerk, the priority of time of filing shall determine the priority of all conveyances of the same land as between the several holders of such conveyances.
SECTION 3. Section 89-5-3, Mississippi Code of 1972, is brought forward as follows:
89-5-3. Except as provided by Sections 89-5-101 through 89-5-113, all bargains and sales, and all other conveyances whatsoever of lands, whether made for passing an estate of freehold or inheritance, or for a term of years; and all instruments of settlement upon marriage wherein land, money, or other personalty should be settled or covenanted to be left or paid at the death of the party, or otherwise; and all deeds of trust and mortgages whatsoever, shall be void as to all creditors and subsequent purchasers for a valuable consideration without notice, unless they be acknowledged or proved and lodged with the clerk of the chancery court of the proper county, to be recorded in the same manner that other conveyances are required to be acknowledged or proved and recorded. Failure to file such instrument with the clerk for record shall prevent any claim of priority by the holder of such instrument over any similar recorded instrument affecting the same property, to the end that with reference to all instruments which may be filed for record under this section, the priority thereof shall be governed by the priority in time of the filing of the several instruments, in the absence of actual notice. But as between the parties and their heirs, and as to all subsequent purchasers with notice or without valuable consideration, said instruments shall nevertheless be valid and binding.
SECTION 4. This act shall take effect and be in force from and after July 1, 2025.
