This is a Prior instruments and Obligations form, in addition to being made subject to all conveyances, reservations, and exceptions or other instruments of record, this assignment is made and assignee accepts this assignment subject to all terms, provisions, covenants, conditions, obligations, and agreements, including but not limited to the plugging responsibility for any well, surface restoration, or preferential purchase rights, contained in any contracts existing as of the effective date of this assignment and affecting the assigned property, whether or not recorded.
Michigan Prior instruments and Obligations
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Multi-State
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US-OG-506
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How to fill out Prior Instruments And Obligations?
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FAQ
Although different jurisdictions require different elements for a valid deed, the following elements are generally required: The names of the grantor and the grantee, and words of conveyance such as ?grant, convey, assign, transfer, and give,? any of which demonstrate the grantor's intent to pass title to the grantee.
In Michigan, a deed must be signed by the grantor, notarized, and recorded to the Register of Deeds for the property transfer to be considered valid and effective.
RECORDING REQUIREMENTS Documents must be on 8.5" x 11" or 8.5" x 14" paper and must have a 2.5" top margin for the first page, and a minimum 0.5" margin on the other three sides of all pages. Documents must be on white paper with black ink and have a 10-point minimum type size.
Race Notice Statute Michigan has a "race-notice" statute where recording a deed places subsequent purchasers on constructive notice. Therefore it is important that documents are recorded in the exact order in which they are first presented for recording at the Register of Deeds Office.
In Michigan, a deed must be signed by the grantor, notarized, and recorded to the Register of Deeds for the property transfer to be considered valid and effective.
Essential Elements of a Valid Deed Use of the proper statutory form of deed. Competent parties: grantor and grantee. Words of grant or operative words of conveyance. Sufficient description of the property to be conveyed. Proper execution. Delivery and acceptance.
RECORDING REQUIREMENTS Documents must be on white paper with black ink and have a 10-point minimum type size. The title or type of document must be identified on the first line of print. The property tax identification number and the commonly known address of the property should be on the document.
If a deed is not recorded, it is virtually impossible for the public to know that the transfer of the property occurred, and the legal owner of the property could appear to be the prior owner rather than the new grantee. Numerous problems can then occur.
