T55CH1

Title 55 > T55CH1

Sections (18)

55-101

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-101. Real property defined. Real property or real estate consists of: 1. Lands, possessory rights to land, ditch and water rights, and mining claims, both lode and placer. 2. That which is affixed to land. 3. That which is appurtenant to land. History: [(55-101) R.S., sec. 2825; reen. R.C. & C.L., sec. 3056; C.S., sec. 5325; I.C.A., sec. 54-101.]

55-101A

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-101A. Lands defined. Lands are the material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock or other substance, and include free or occupied space for an indefinite distance upwards as well as downwards, subject to limitations upon the use of airspace imposed and rights in the use of airspace granted, by law. History: [55-101A, added 1965, ch. 104, sec. 1, p. 190.]

55-101B

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-101B. Condominium defined. A condominium is an estate consisting of (i) an undivided interest in common in real property, in an interest or interests in real property, or in any combination thereof, together with (ii) a separate interest in real property, in an interest or interests in real property, or in any combination thereof. History: [55-101B, added 1965, ch. 104, sec. 2, p. 190.]

55-102

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-102. Personal property defined. Every kind of property that is not real is personal. History: [55-102, added R.S., sec. 2826; reen. R.C. & C.L., sec. 3057; C.S., sec. 5326; I.C.A., sec. 54-102.]

55-103

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-103. Who may own property. (1) Except as provided in subsection (2) or (3) of this section, any person, whether citizen or alien, may take, hold, and dispose of property, real or personal. (2) Notwithstanding any provision of law to the contrary, on and after the effective date of this subsection, a foreign government or a foreign state-controlled enterprise shall not purchase, acquire, or hold any controlling interest in agricultural land, forest land, water rights, mining claims, or mineral rights in the state of Idaho. This subsection does not apply to any interest in agricultural land, forest land, water rights, mining claims, or mineral rights acquired by a foreign government or foreign state-controlled enterprise prior to the effective date of this subsection or to any foreign pension fund. (3) Notwithstanding any other provision of law to the contrary, a foreign principal from a foreign adversary shall not purchase, acquire, or hold any controlling interest, except a de minimis indirect interest, in agricultural land, water rights, mining claims, or mineral rights in the state of Idaho. A foreign principal has a de minimis indirect interest if any ownership is the result of the foreign principal’s ownership of registered equities in a publicly traded company owning the land and if the foreign principal’s ownership in the company is either: (a) Less than five percent (5%) of any class of registered equities or less than five percent (5%) in the aggregate in multiple classes of registered equities; or (b) A noncontrolling interest in an entity controlled by a company that is both registered with the United States securities and exchange commission as an investment advisor under the investment advisers act of 1940, as amended, and is not a foreign entity. (4) A foreign principal that directly or indirectly owns or otherwise controls agricultural land, water rights, mining claims, or mineral rights in the state of Idaho must sell, transfer, or otherwise divest itself of the agricultural land, mining claims, or mineral rights within one hundred eighty (180) days of the effective date of this act. (5) A foreign principal that directly or indirectly owns or acquires agricultural land, water rights, or any interest in such land in this state must register with the Idaho state department of agriculture within sixty (60) days of the effective date of this act or the date of acquisition, whichever is latest. The department must establish a form for such registration, which, at a minimum, must include all of the following: (a) The name of the owner of the agricultural land, water rights, or the owner of the interest in such land; (b) The address of the agricultural land, the property appraiser’s parcel identification number, and the property’s legal description; and (c) The number of acres of agricultural land. (6) A foreign principal that directly owns or acquires m

55-104

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-104. Interests in common. Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, or unless acquired as community property. History: [55-104, added R.S., sec. 2828; reen. R.C. & C.L., sec. 3059; C.S., sec. 5328; I.C.A., sec. 54-104.]

55-105

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-105. Future interests — When vested. A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property upon the ceasing of the immediate or precedent interest. History: [55-105, added R.S., sec. 2830; reen. R.C. & C.L., sec. 3061; C.S., sec. 5329; I.C.A., sec. 54-105.]

55-106

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-106. Contingent interests. A future interest is contingent whilst the person in whom, or the event upon which, it is limited to take effect remains uncertain. History: [55-106, added R.S., sec. 2831; reen. R.C. & C.L., sec. 3062; C.S., sec. 5330; I.C.A., sec. 54-106.]

55-107

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-107. Alternative future interests. Two (2) or more future interests may be created to take effect in the alternative; so that if the first in order fails to vest, the next in succession shall be substituted for it, and take effect accordingly. History: [55-107, added R.S., sec. 2832; reen. R.C. & C.L., sec. 3063; C.S., sec. 5331; I.C.A., sec. 54-107.]

55-108

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-108. Inheritance by posthumous children. When a future interest is limited to successors, heirs, issue or children, posthumous children are entitled to take in the same manner as if living at the death of their parent. History: [55-108, added R.S., sec. 2833; reen. R.C. & C.L., sec. 3064; C.S., sec. 5332; I.C.A., sec. 54-108.]

55-109

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-109. Transfer and devolution of future interests. Future interests pass by succession, will and transfer in the same manner as present interests. History: [(55-109) R.S., sec. 2834; reen. R.C. & C.L., sec. 3065; C.S., sec. 5333; I.C.A., sec. 54-109.]

55-110

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-110. Possibilities. A mere possibility, such as the expectancy of an heir apparent, is not to be deemed an interest of any kind. History: [(55-110) R.S., sec. 2835; reen. R.C. & C.L., sec. 3066; C.S., sec. 5334; I.C.A., sec. 54-110.]

55-111

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-111. No rule against perpetuities. There shall be no rule against perpetuities applicable to real or personal property. History: [(55-111) R.S., sec. 2836; reen. R.C. & C.L., sec. 3067; C.S., sec. 5335; I.C.A., sec. 54-111; am. 1957, ch. 54, sec. 1, p. 92; am. 2008, ch. 77, sec. 1, p. 204.]

55-111A

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-111A. Suspension of power of alienation — Future interest by power of appointment. (1) The absolute power of alienation of property cannot be suspended by any limitation or condition whatever, for a longer permissible period than during the continuance of the lives of the persons in being at the creation of the limitation or condition, and twenty-five (25) years thereafter. No trust heretofore or hereafter created, either testamentary or inter vivos, shall be declared void, but shall be so construed as to eliminate parts violating the above provisions, and in such a way that the testators or trustors wishes are carried out to the greatest extent permitted by this section; and there shall be no presumption that a person is capable of having children at any stage of adult life. (2) If a future interest or trust is created by exercise of a power of appointment, the permissible period is computed from the time the power is exercised if the power is a general power including a testamentary general power or from the time the power is created if the power is not a general power. (3) Notwithstanding the provisions of subsection (1) of this section, there is no suspension of the power of alienation of property by a trust or by equitable interests under a trust if the trustee has power to sell, either express or implied, or if there is an unlimited power to terminate in one (1) or more persons in being. (4) Furthermore, the provisions of subsection (1) of this section shall not limit transfers, outright or in trust, for charitable purposes or transfers to charitable entities. History: [55-111A, added 2008, ch. 77, sec. 2, p. 205.]

55-112

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-112. Future interests defeated. A future interest, depending on the contingency of the death of any person without successors, heirs, issue or children, is defeated by the birth of a posthumous child of such person capable of taking by succession. History: [(55-112) R.S., sec. 2837; reen. R.C. & C.L., sec. 3068; C.S., sec. 5336; I.C.A., sec. 54-112.]

55-113

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-113. Future interests not defeated. No future interest can be defeated or barred by any alienation or other act of the owner of the intermediate or precedent interest, nor by any destruction of such precedent interest by forfeiture, surrender, merger or otherwise. History: [(55-113) R.S., sec. 2838; reen. R.C. & C.L., sec. 3069; C.S., sec. 5337; I.C.A., sec. 54-113.]

55-114

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-114. Future interests not defeated by premature determination of precedent estate. No future interest, valid in its creation, is defeated by the determination of the precedent interest before the happening of the contingency on which the future interest is limited to take effect; but should such contingency afterward happen, the future interest takes effect in the same manner and to the same extent as if the precedent interest had continued to the same period. History: [(55-114) R.S., sec. 2839; reen. R.C. & C.L., sec. 3070; C.S., sec. 5338; I.C.A., sec. 54-114.]

55-115

TITLE 55 PROPERTY IN GENERAL CHAPTER 1 PROPERTY AND OWNERSHIP — GENERAL PROVISIONS 55-115. Prohibitions on LEASE OR PURCHASE OF LAND OR DWELLINGS — within certain geographic boundaries. (1) A foreign principal from a foreign adversary country shall not be allowed to directly or indirectly purchase, hold, rent, or otherwise control any property in Idaho within the geographic boundaries described by the following coordinates: N4200 W11700, N4320 W11700, N4320 W11600, N4300 W11600, N4300 W11500, N4200 W11500. (2) A foreign principal that directly or indirectly controls any property covered by subsection (1) of this section must sell, transfer, or otherwise divest itself of control of the property within one hundred eighty (180) days of the effective date of this act. (3) A foreign principal from a foreign adversary country that acquires, directly or indirectly, control of property covered by subsection (1) of this section after July 1, 2025, by devise, descent, through the enforcement of security interests, or the collection of debts must sell, transfer, or otherwise divest itself of the property within one hundred eighty (180) days of acquiring control of the property. (4) If a foreign principal from a foreign adversary country does not divest the public or private lands as required by this section, the attorney general shall commence an action in the district court within the jurisdiction of the public or private land. (5) If the public or private land is held in violation of this section, the district court shall order that the public or private land be sold through judicial foreclosure. (6) Proceeds of the sale shall be disbursed to lienholders, in the order of priority, except for liens that, under the terms of the sale, are to remain on the public or private land. (7) Any individual may act as a whistleblower and provide a referral to the office of the attorney general for violations of this section. (8) If a whistleblower referral results in a divestiture of land or other assets held in violation of this section, the whistleblower shall be entitled to a reward equal to thirty percent (30%) of the proceeds of the land sale resulting from a violation of this section. Proceeds of the sale shall be disbursed in the following order: (a) The payment of authorized costs of the sale, including all approved fees and expenses of the referee and any taxes and assessments due; (b) The payment, in an amount approved by the court, to the attorney general for reimbursement of investigation and litigation costs and expenses; (c) To bona fide lienholders, in the order of priority, except for liens that, under the terms of the sale, are to remain on the property; (d) To whistleblowers; and (e) To the restricted foreign entity. (9) The whistleblower enforcement provision takes effect one hundred eighty (180) days after the effective date of this section. (10) As used in this section, military base or installation means any land, structure, or property owned or