Section 1953. Effect of certain special limitations and conditions subsequent

1. Except as provided in subdivision 4, a special limitation
  or condition subsequent created on or after September 1, 1958  shall  be
  governed  by this section in any case where it expressly or by necessary
  result restricts the use of land, but  if  such  special  limitation  or
  condition  subsequent also creates a possibility of reverter or right of
  entry conditioned upon an event other than breach of such a restriction,
  it shall be governed by this section to the extent only that  the  right
  of  entry  or possibility of reverter is conditioned upon breach of such
  express or implied restriction on the use of land.
    2. No reverter shall occur and no possessory estate  shall  result  by
  reason of such special limitation, and no right of entry shall accrue by
  reason of breach of such condition subsequent, but upon the happening of
  such  a  breach  the  person  or  persons who would have such possessory
  estate or right of entry except for this section, may maintain an action
  in the supreme court to compel a conveyance to him or them of the  land,
  or  the  interest therein, which is subject to the special limitation or
  condition subsequent.
    3. The relief provided in subdivision  2  shall  be  granted  only  to
  protect  a  substantial  interest  in  enforcement  of  the restriction,
  established by the person or  persons  in  whose  favor  the  relief  is
  granted. The action provided for in this section shall be subject to any
  defense  that  might be interposed in an action to enjoin a violation of
  the restriction if it were created by covenant of the person or  persons
  against  whom  the relief is sought, and the court may deny such relief,
  or impose conditions upon the granting  thereof,  or  grant  alternative
  relief,  upon  like  cause  and  in like manner as in an action for such
  injunction. If it appears that the  relief  provided  in  subdivision  2
  would  be  inequitable,  the  court  may,  in lieu thereof, restrain the
  repetition or continuation of a breach of the  restriction,  or  it  may
  grant  the  relief  provided in subdivision 2 upon such terms as justice
  may require to avoid a forfeiture of the value of improvements or  other
  unjust enrichment.
    4.  This  section  shall  not  apply  where  the special limitation or
  condition subsequent was created in a conveyance or devise,  whether  or
  not  in  trust,  for  benevolent,  charitable,  educational,  public  or
  religious purposes and restricts the use of land to such a purpose or to
  a particular application or means of carrying out such purpose,  or  was
  created  by  a  lease  for  a  term  of  less than one hundred years and
  restricts use of the leased premises.