real estate legal speak help please...

MELOC · #1 05/15/08, 07:12 PM

in the phrase...

"in case the said real estate be no longer used for (purpose omitted) the said land shall automatically revert to the grantor herein, his heirs and assigns, and the grantee herein and it's successors shall have a period of 6 months to remove the improvements which may have been erected on the said above described land."

what does "assigns" refer to? would this be anyone who owns the land currently?

mzzlisa · #2 05/15/08, 07:46 PM

Its a fancy way of saying anyone the grantor sells it to.

MELOC · #3 05/15/08, 07:47 PM

thanks!

Witterbound · #4 05/15/08, 07:49 PM

Wow, you don't see this in deeds very often. Last time I saw it was in law school.

fantasymaker · #5 05/15/08, 11:36 PM

The Grantor can "assign" his rights to whom ever he wants .
Why do you ask ?This is a part of a VERY limiting deal.
As in you can build a memorial to cats here but if its ever not a cat memorial or its used for ANYTHING else like parking, then I get it back.........even 200 years in the future

stickinthemud · #6 05/16/08, 10:05 AM

If you are referring to a railroad right of way, the Supreme Court has ruled that the purpose is transportation, not only rail transportation:
http://railtrails.org/resources/docu...ingHistory.pdf

texican · #7 05/16/08, 11:38 AM

I would never buy land with such a stipulation in it.

I would however, lease land, with such a stipulation... it would need to be a long term lease though.

Darren · #8 05/16/08, 10:13 PM

An example might be land donated for a school with the stipulation that when it was no longer used for a school then the ownership would revert back to the original owners.

As mentioned some railroad right of ways may also revert depending on the original terms of the transfer.

MELOC · #9 05/17/08, 12:06 AM

but in terms of the assigns, they could be those who bought the property from the owner who had sold the property intended for a specific purpose?

donsgal · #10 05/17/08, 12:43 AM

Quote:

Originally Posted by MELOC

in the phrase...

"in case the said real estate be no longer used for (purpose omitted) the said land shall automatically revert to the grantor herein, his heirs and assigns, and the grantee herein and it's successors shall have a period of 6 months to remove the improvements which may have been erected on the said above described land."

what does "assigns" refer to? would this be anyone who owns the land currently?

It means that the grantor (the seller, in this case), has the option of ASSIGNING his interest in the property to someone else. If the grantee (the buyer), decides to use the land for the "purpose" then the land will REVERT back to the grantor (or if he has died, his heirs - or if he has assigned his interest - to his ASSIGNEE). And not only will the buyer LOSE the property, but they will have to remove the "improvements".

These kinds of deed restrictions are a pain. I would NOT get involved in a situation like this. You could have this property for 30 years, and if you break the deed restriction, you could LOSE THE PROPERTY with no compensation whatsoever. In addition to this. You could be breaking the deed restriction for 20 years and nothing be said about it, until the old man dies (or he assigns his interest) then the new person (heir or assignee) could decide to enforce the deed restriction and you could STILL LOSE THE PROPERTY with no compensation!

Not a good situation. HTH

donsgal

donsgal · #11 05/17/08, 12:49 AM

Quote:

Originally Posted by MELOC

but in terms of the assigns, they could be those who bought the property from the owner who had sold the property intended for a specific purpose?

No. He would assign his interest to this person with an instrument called an Assignment. He could sell his interest under this assignment, but it is not the person who is buying the property. He retains the right to enforce the deed restriction if it is breached. He can assign this to someone else (or someone can inherit the right if he dies i.e. heirs).

donsgal