Page:United States Statutes at Large Volume 84 Part 1.djvu/1165

 84 STAT. ]

PUBLIC LAW 91-505-OCT. 23, 1970

1107

States bases its claim of accretion or avulsion occurred more than forty years prior to the effective date of this Act, (4) the defendant has paid real property taxes on the disputed lands on the same basis as other owners of fee lands within the same taxing jurisdiction, (5) defendants claim title to the disputed lands or lands to which the disputed lands are claimed to have accreted by chains of title deriving from a conveyance from the State or Federal Government or a political agency or subdivision thereof, and (6) a reasonably prudent man would have believed that, when he acquired title to the real property in question, he had obtained title free of the likelihood of any claim by the United States Government, any State, or any private person, but in no event shall the provisions of this Act apply to any land other than that land situated in Riverside County, California, within three miles of any portion of the Colorado River between river points 13.00 and 13.17, as defined in the interstate compact defining the boundary between the States of Arizona and California (80 Stat. 340). SEC. 2. For purposes of determining the date of acquisition of title ti^'^dated'^ter"! to the real property in question by a private party litigant, his date of mination, acquisition of title shall be deemed that of the earliest date when he first acquired title to the real property and for purposes of determining said acquisition and ownership of stock or real property under this Act— (A) ownership by any person related by blood or marriage to another shall be deemed ownership by the other; (B) ownership by an estate or trustee shall be deemed ownership by the decedent or grantor of the trust, respectively; (C) ownership by a corporation shall be deemed ownership by its transferor or transferors: Provided, That (1) at least 50 per centum of the stock of the corporation was owned by all transferors immediately after the transfer or (2) the corporation acquired the real property in question pursuant to a transaction where said real property was transferred solely in exchange for stock in such corporation and immediately after the transfer all corporations and persons transferring any property to the transferee corporation owned at least 80 per centum of the shares of the transferee corporation; (D) ownership by a corporation shall be deemed ownership as tenants in common by each of its shareholders who own at least 10 per centum of the outstanding stock of the corporation; and (E) property or stock acquired or held by tenants in common, joint tenants or persons associated together in business shall be deemed to be and have been entirely owned by either party so long as owned by any or all of them. SEC. 3. The application of the attribution rules once shall not preclude any number of subsequent applications of the attribution rules set forth in section 2 of this Act. SEC. 4. The provisions of this Act shall apply in any case with respect Applicability,. to which an action has been brought by the United States before the date of the enactment of this Act, only if such action has not been concluded by a final determination by the trial court or by such appellate courts as may review the action of the trial court in those actions wherein review by such courts is or has been timely sought. Approved October 23, 1970.

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