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In property law, land-related covenants are called "real covenants", " covenants, conditions and restrictions " (CCRs) or "deed restrictions" and are a major form of covenant, typically imposing restrictions on how the land may be used (negative covenants) or requiring a certain continuing action (affirmative covenant).
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Therefore, it behooves purchasers and mortgage lenders to record their deeds or mortgages, respectively, to prevent this outcome. Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they have not searched the records in the recorder's office.
The plaintiff contributed five times more than the defendant toward the purchase price. In a partition action, the plaintiff sought credit for the full amount of his superior contributions. The Court held that, in the absence of fraud, the working of the deed operated to convey a one-half interest to each of the two joint tenants.
The office of Commissioner of Deeds is one unique to the United States. During the 19th century, deeds concerning property located in a particular state could only be acknowledged before a Notary Public in that state; if the deeds was acknowledged outside the state where the subject property was located, the grantor would have to find a judge of a court of record to take the acknowledgment.
Foreclosure vs. deed in lieu. A foreclosure and a deed in lieu have one main thing in common: In either situation, the lender takes full ownership of a property from a homeowner who hasn’t made ...
Examples of clouds on title include a property's address being misspelled in a deed conveying title, a mortgage lien whose repayment hasn't been officially recorded, a deed which has been signed but hasn't been properly recorded, an easement that has not been properly recorded, unpaid property taxes, a failure to transfer property rights (such ...
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .