In a deed, a grantee may agree to do something or refrain from doing certain acts. This agreement will become a binding contract between the grantor and the grantee. An example would be an agreement to maintain fences on the property or that the property will only be used for residential purposes. This kind of covenant is binding, not only between the grantor and the grantee, but also runs with the land. This means that anyone acquiring the land from the grantee is also bound by the covenant of the grantee. A covenant that provides that the grantee will refrain from certain conduct is called a restrictive or protective covenant. For example, there may be a covenant that no mobile home shall be placed on the property.
A restrictive or protective covenant may limit the kind of structure that can be placed on the property and may also restrict the use that can be made of the land. For example, when a tract of land is developed for individual lots and homes to be built, it is common to use the same restrictive covenants in all of the deeds in order to cause uniform restrictions and patterns on the property. For example, the developer may provide that no home may be built under a certain number of square feet. Any person acquiring a lot within the tract will be bound by the restrictions if they are placed in the deed or a prior recorded deed. Also, these restrictive covenants may be placed in a document at the outset of the development entitled "Restrictive Covenants," and list all the restrictive covenants that will apply to the tracts of land being developed. Any subsequent deed can then refer back to the book and page number where these restrictive covenants are recorded. Any person owning one of the lots in the tract may bring suit against another lot owner to enforce the restrictive covenants. However, restrictive covenants may be abandoned or not enforceable by estoppel if the restrictive covenants are violated openly for a sufficient period of time in order for a Court to declare that the restriction has been abandoned.
Covenants Form For Client In Michigan
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You need to have an attorney draft a deed for you. Then you bring it to the Register of Deeds office for recording. There may be many questions that should be asked of an attorney when you are thinking about adding someone's name on your deed.
A warranty deed offers the strongest protection. It protects the party receiving the property title in case there turns out to be any issues with the title.
A Michigan covenant deed transfers property title to another person with the warranty that the the seller is titleholder and has not encumbered the title during their ownership.
Restrictive covenants or deed restrictions are legal instruments recorded with the county register of deeds and are used to impose land use or resource use restrictions where environmental contamination is present at a particular property.
A Fiduciary Deed, also known as a trustee's deed or personal representative's deed, is a legal document used to convey real property from one party (the grantor) to another (the grantee).
Unlike a warranty, some of these implied covenants cannot be waived by the parties. Like a warranty, a covenant is a part of the contract, and not made to induce a party to enter into the contract.
A Michigan deed successfully transfers real estate only if the deed is correctly formatted, contains all required information, and is signed, notarized, and recorded in compliance with Michigan law. The legal requirements for Michigan deeds are described below.
A Deed of Covenant is quite simply a form of legal agreement between two parties. it can take various forms, but in conveyancing, it is usually used to lay out legal responsibilities and obligations between a property freeholder and their leaseholder.