Michigan Confidentiality Agreement on Information About Leases offered For Sale

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Multi-State
Control #:
US-OG-198
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Word; 
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This form may be used when First Party and Second Party are entering into an Agreement for the purpose of protecting the confidentiality and proprietary nature of information and documentation to be furnished by First Party to Second Party regarding the potential sale of Oil and Gas Leases.

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FAQ

The Michigan Seller Disclosure Act requires the seller (or the seller's agent) to provide a written Seller's Disclosure Statement (SDS) to the prospective buyer (or prospective buyer's agent) before execution of a binding purchase agreement for the property. Michigan Seller Disclosure Act Requirements | For Sale By Owner ... agerlawoffice.com ? real-estate ? 2020/03/26 agerlawoffice.com ? real-estate ? 2020/03/26

Michigan's Seller Disclosure Act (Act 92 of 1993) (the ?Act?) requires certain disclosures in connection with transfers of residential property. On the statutory Seller Disclosure Statement (the ?SDS?), the seller is instructed to ?(1) Answer ALL questions. (2) Report known conditions affecting the property.

Yes. In Michigan, the seller's disclosure is a standard form prescribed under the state laws which all sellers are supposed to complete. This form is to be submitted to any buyer before the sale agreement is executed. Sellers Disclosure Michigan - A Guide To Ace Your Disclosure Process houzeo.com ? blog ? seller-disclosure-in-mi... houzeo.com ? blog ? seller-disclosure-in-mi...

A Michigan property disclosure statement is a form through which sellers must report the condition of their residential real estate to potential buyers. The items specified may include pending legal cases, unpaid fees, property defects, or damage from flooding or fires.

Limits on Information Michigan Home Sellers Must Disclose The Michigan disclosure statement requires that you disclose only information about the property that you actually and personally know, ing to the "best information available." (Mich. Comp. Laws Ann. § 565.956.)

While some states have specifically addressed whether or not sellers must disclose whether a property is "stigmatized" (by death, murder, infectious disease, and so forth), Michigan has not. The disclosure statement instead generally limits disclosures to the physical condition of the property. Selling a Michigan Home: What Are My Disclosure Obligations? Nolo ? legal-encyclopedia ? home-se... Nolo ? legal-encyclopedia ? home-se...

Agency disclosure is required for transactions involving the sale or lease of property with one to four residential dwelling units, or a building site intended for residential units (either on a lot or as part of a condo unit).

?Confidential Information? is proprietary information disclosed by Seller and relating to the sale of the Property including but not limited to: revenue, taxes, marketing plans, planned capital improvements, the identity or financial status of investors or partners, or other information conveyed in writing or in ... Real Estate Buyer (Confidentiality) Non-Disclosure Agreement nondisclosureagreement.com ? real-estate-buyer-c... nondisclosureagreement.com ? real-estate-buyer-c...

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Michigan Confidentiality Agreement on Information About Leases offered For Sale