Limitation on third-party liability for damage to property--Vesting of title

No lender - owner or representative may by virtue of becoming the owner of real or personal property be liable for any third - party liability arising from contamination or pollution emanating from the property before the date the title vests in the lender - owner or representative. For the purposes of this chapter, the issuance of a sheriff's certificate of sale is not sufficient to vest title in the lender - owner or representative. Source: SL 1992, ch 261, § 4.