Missouri Deed to Time Share Condominium with Covenants of Title

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Multi-State
Control #:
US-02717BG
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Word; 
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Description

Time share is a type of property right under which the purchaser of a time share has access to the 'share' they own in a property for a specific 'time'. Time-shares have been sold for cruises, recreational vehicles, campgrounds, and many other types of properties, but their most popular use is for shares in condominiums at timeshare resorts.


A Warranty Deed s provides the most protection against defects of title- covenants that the grantor has title to, and the power to convey, the property; that the buyer will not be disturbed in possession of the land; and that transfer is made without unknown adverse claims of third parties. A Special Warranty Deed only that the grantor held good title during his or her ownership of the property, not that there were no title defects when others owned it. If all liens and encumbrances are disclosed, the seller is not liable if a third person interferes with the buyer's ownership.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

The execution of the deed is the actual signing of the deed by the grantor or by the grantor's authorized agent. Execution is an essential element to the validity of a deed.

Sometimes, timeshare owners who no longer wish to own the property or lose it due to bankruptcy or foreclosure may be offered a warranty deed by the resort or lender to sign to legally remove their ownership status.

Present covenants essentially provide that the grantor has fee simple title to the property, has the right to convey the property, and that there are no encumbrances on the property. Future covenants, on the other hand, include a general warranty, quiet possession, and further assurances.

You may have to prove in court that your deed restriction creates an undue hardship.? Laws in some states, including Missouri, permit homeowners to modify restrictive covenants if they take particular steps. ?If in doubt, get the help of an attorney,? Ailion says.

There are up to six express covenants that may be found in a deed: the covenant of seisin, the covenant of the right to convey, the covenant against encumbrances, the covenant of quiet enjoyment, the covenant of general warranty, and the covenant of further assurances.

A property covenant is an agreement between two or more parties regarding certain use of a piece of real property. The covenant will either benefit or burden the landowner. A covenant that burdens the landowner is also called a restrictive covenant.

This Deed of Release - Restrictive Covenants shall be used where the owner of the land that has the benefit of the covenants agrees to release the restrictive covenants from the land that is burdened with the covenants.

A covenant is a formal agreement or promise, usually included in a contract or deed, to do or not do a particular act. Covenants are particularly relevant in the fields of contract law and property law. An example of a contractual covenant is a non-compete agreement.

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Missouri Deed to Time Share Condominium with Covenants of Title