Restrictive Covenants In Shareholders Agreements In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00404BG
Format:
Word;
Rich Text
Instant download
Description
The document titled "Agreement Creating Restrictive Covenants" establishes guidelines for residential subdivisions in Franklin. It outlines the covenants, conditions, and restrictions aimed at preserving property values and maintaining a desirable community. Key features include automatic membership in the homeowner's association upon purchasing property, the requirement for owners to notify the association of any changes in ownership, and provisions allowing the association to amend the agreement with a 75% consent from current owners. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured approach to enforce community standards and navigate property ownership issues. Filling instructions include detailing the property description and obtaining necessary signatures, while specific use cases may involve addressing disputes among owners or managing property transfers. The document also specifies conditions under which the agreement can be voided after a set number of years, ensuring adaptability to changing community needs.
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