House Bill 1018 Summary

• Amends real property registration procedures for corporate entity name changes, mergers, consolidations, and conversions to clarify certificate requirements and registration in the register of deeds.

• Modifies memorandum requirements for options to purchase or convey real estate, rights of first refusal, and purchase contracts to require executed and notarized signatures of all parties and clearer identification of underlying agreements.

• Abolishes the common-law rule against perpetuities effective October 1, 1995, clarifying that the Uniform Statutory Rule Against Perpetuities governs all property interests created on or after that date.

• Strengthens personal liability protection for limited liability partnership partners by explicitly stating they are not liable directly or indirectly for partnership debts and obligations, including through indemnification, contribution, or assessment.

• Aligns venue procedures for judicial review of contested administrative cases by allowing change of venue consistent with general civil procedure rather than dismissal for improper venue, and clarifies guardian ad litem appointment procedures in guardianship proceedings.

• Improves landmark designation procedures by clarifying the preservation commission's role, the Department of Natural and Cultural Resources' 30-day comment period, and notice requirements to tax supervisors.