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Form #651

Alienation of Property

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Alienation of property.

No sublot of the property conveyed shall be occupied, leased, rented, conveyed, or otherwise alienated, nor shall the title or possession pass to another, without the written consent of the _________ Company, except that _________ Company may not withhold consent if and after a written request has been made to _________ Company to permit occupation, leasing, renting, conveying, or alienation by a majority of the owners of the sublots [which are subject to the same restrictions as in section No. _________ set forth and which adjoin or face the sublot concerning which the consent is requested] upon both sides of the street or streets the sublot [as to which consent is requested] fronts or abuts and within a distance of _________ sublots from the respective sidelines of the sublot [as to which consent is requested], except (1) transfer of title by way of devise or inheritance, in which case the devisee or heir shall take the property subject to the restrictions imposed, and except (2) that the sublot may be mortgaged or subjected to judicial sale, though in no case shall a purchaser of the premises at judicial sale have any right to occupy, lease, rent, convey, or otherwise alienate the premises without the written consent of _________ Company first obtained in the manner stated above.



 
Contributed by
Legal Concepts LTD
 
Name of Firm Legal Concepts LTD
Total Forms Contributed 63
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 12/7/2008
by DavidMarshall  

"As most of you will recognize, this is not a legal form as such, but a single term that can be included in a contract drawn up by a company developing a residential estate divided into plots. Although possession and, possibly, title to each individual plot will be transferred, that transfer may be subject to continuing restrictions on how the property can be used, or how, if at all, title may be encumbered or transferred in the future. Precisely what restrictions are to be imposed on use or future transfer need to be carefully considered before a term like this is finalized."
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