Title 11, Chapter 2, Section 107
( 11-2-107)
Goods to be severed from realty; recording. (1) A contract for the sale of timber, minerals, or the like
(including oil and gas) or a structure or its materials to be
removed from realty is a contract for the sale of goods within this
article if they are to be severed by the seller but until severance
a purported present sale thereof which is not effective as a
transfer of an interest in land is effective only as a contract to
sell. (2) A contract for the sale apart from the land of growing crops or
other things attached to realty and capable of severance without
material harm thereto but not described in subsection (1) of this
Code section is a contract for the sale of goods within this article
whether the subject matter is to be severed by the buyer or by the
seller even though it forms part of the realty at the time of
contracting, and the parties can by identification effect a present
sale before severance. (3) The provisions of this Code section are subject to any third
party rights provided by the law relating to realty records, and the
contract for sale may be executed and recorded as a document
transferring an interest in land and shall then constitute notice to
third parties of the buyer's rights under the contract for sale. |