327G.76 - TIME OF REVERSION. - Iowa Statutes

327G.76 TIME OF REVERSION. Railroad property rights which are extinguished upon cessation of service by the railroad divest when the department of transportation or the railroad, having obtained authority to abandon the rail line, removes the track materials to the right-of-way. If the department of transportation does not acquire the line and the railway company does not remove the track materials, the property rights which are extinguished upon cessation of service by the railroad divest one year after the railway obtains the final authorization necessary from the proper authority to remove the track materials.          Section History: Early Form [C24, 27, 31, 35, 39, § 7861; C46, 50, 54, 58, 62, 66, 71, 73, 75, § 473.1; C77, 79, 81, § 327G.76]          Section History: Recent Form 83 Acts, ch 121, § 5; 2009 Acts, ch 97, §10 Referred to in § 327G.77