43-13-27. Carbon pipeline easement--Grant--Recording--Term--Deadline for use--Attachment--Encumbrance--Expiration for nonuse.

(1)    A property owner may grant a carbon pipeline easement in the same manner and with the same effect as a conveyance of an interest in real property. The easement must be created in writing, and the easement or a memorandum thereof must be filed, duly recorded, and indexed in the office of the register of deeds of the county in which the easement is granted.

(2)    Any carbon pipeline easement runs with the land benefited and burdened and terminates upon the conditions stated in the easement, except that the term of any such easement may not exceed ninety-nine years.

(3)    Any carbon pipeline easement is void if the operator does not initiate business operations within five years after the recording date of the easement.

(4)    If the easement holder mortgages or otherwise encumbers to any party any part of the easement holder's rights and interests under the easement, any such mortgage or encumbrance on the easement is the responsibility of the easement holder and attaches only to the easement holder's rights and does not otherwise attach to the land or obligate the property owner. Each carbon pipeline easement agreement must include a statement disclosing that the easement holder may mortgage or encumber any part of the easement holder's rights and interests under the agreement unless otherwise specified in the agreement.

(5)    Any carbon pipeline easement shall expire after five years of nonuse at any time after the issuance of a permit by the Public Utilities Commission.

Source: SL 2024, ch 179, § 2.