47-16-03. Filing farm lease containing reservation of title to crop - Waiver of rights on failure to file

47-16-03. Filing farm lease containing reservation of title to crop - Waiver of rights on

failure to file.

1. When a lease of a farm contains a provision reserving title in the lessor to any part of

the crops in excess of the rental share of the lessor until the stated conditions of the

lease have been complied with by the lessee, such lease must be filed in the office of

the recorder in the county in which the land described therein is located if notice by a

real estate recording is sought, and must be filed electronically in the central indexing

system if recording in the central notice system is sought, prior to July first in the year

in which the crops are raised to render such reservation of title effective as to

subsequent purchasers or encumbrancers of any part of the grain over and above the

lessor's rental share produced upon the land.

2. The failure to file such lease or contract in accordance with this section constitutes a

waiver by the lessor of all rights reserved by that person over and above that person's

rental share in such crops as against any subsequent purchaser or encumbrancer of

the lessee.

3. The secretary of state shall provide an electronic system that includes the pertinent

information from the lease that may be filed in the central notice system. A lessor may

file this electronic statement and obtain the same rights under this section as if the

lessor had filed the lease.

4. The fee required to file and index this notice of lease is:

a. As provided in section 11-18-05, if the notice of lease is only a real estate

recording;

b. As provided in section 41-09-96, if the notice of lease is filed only to gain

protection under the central notice system; or

c. As provided in section 11-18-05, if a real estate recording is sought and according

to section 41-09-96 if electronically filed to gain protection under the central

notice system.