Provision As to Life Insurance on Purchaser to Protect S (1)
Provision as to Life Insurance on Purchaser to Protect
When there is a deed of sale between the purchaser and the seller, the seller relinquishes all his claims to the property and it then becomes the property of the buyer. The buyer has all the rights to the property which has been purchased and other than him or her and their immediate family members or the persons they give the right to, no one has any right in regards to the property.
However, this situation applies in most of the cases but not all. There are some cases where the property which is sold consists of either streets, roads or highways which lie in the boundaries. In such situations and in such cases, the entire property belongs only to the purchaser but the public does have the right to the streets or the roads or the highway that runs through the property and cannot be stopped from using it. The roads or the highway or the streets in question cannot be blocked or even have restricted use at certain times of the day or during certain hours.
In cases such as the above, the deed is signed by the seller and the purchaser where the purchaser agrees that the roads, streets and highways which run through the property will be open to the general public.
This document is then signed by the purchaser and the seller in the presence of atleast two witnesses. The document is dated and should the purchaser refuse admission, this can be used against him or her.
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- Against Legacy Charged on Premises Sold
- Broker’s receipt
- Contract by Purchaser to Retain Part of Purchase Money
- Delivery, Acceptance, Affidavit of Completion, Release
- Final Statement on Real Property Sale by Broker (Type 1)
- INCLUSION PERSONAL PROPERTY
- Model FIRPTA Provisions
- Notice Of Unsatisfactory Conditions Upon Inspection
- PURCHASE BID CONDITION REZONED
- Statement of Reasons for Forfeiture