![]() ![]() Such Leasehold Mortgagee shall have the right to participate, at its or Tenant's sole cost, in any condemnation proceeding affecting the Premises. The lender may accept a voluntary conveyance of title to or ownership of the property securing a manufactured home loan which is in default, provided that (a) the lender accepts the conveyance in full satisfaction of the borrower's obligation, and (b) no claim is submitted under its contract of insurance. ![]() ![]() A deed is a written instrument by which an. 201.52 Acquisition by voluntary conveyance or surrender. Notwithstanding anything to the contrary elsewhere in this Secondary Sublease, in the event that Tenant's leasehold estate is subject to a Leasehold Mortgage, all amounts payable to Tenant pursuant to this Article 9, if required by the Leasehold Mortgage, shall be paid to the Leasehold Mortgagee to be applied by the Leasehold Mortgagee in accordance with the Leasehold Mortgage. To transfer title by voluntary alienation during her lifetime, an owner must use some form of deed of conveyance. 'The land having been acquired under a voluntary Conveyance dated XXX 1990 made by ZZ, the registered title is subject to the provisions of Section 339 Insolvency Act 1986.' Section 339 appears to relate to transactions at an undervalue and the ability of a trustee in bankruptcy to apply to the Court to avoid such transaction. ยง 201.52 Acquisition by voluntary conveyance or surrender. In such event, Tenant shall be entitled to any award specifically made for the repair and restoration of any damage to the Premises or any improvements thereon, as a result of such temporary use or occupancy and to the entire award for such taking for temporary use or occupancy to the extent that such award relates to the Premises and is applicable to the period of such temporary use or occupancy occurring during the Term and Landlord shall be entitled to the remainder of the award. If all or any portion of the Project shall be taken by any competent authority for temporary use or occupancy, this Secondary Sublease shall continue in full force and effect (but with a proportional reduction or abatement of rent if a portion of the Premises is taken). When the transfer is done with self consent, it is termed as voluntary transfer, where the transfer of the ownership is not done under any forced circumstances. A voluntary conveyance is a conveyance without any valuable consideration. Voluntary Conveyance. A voluntary conveyance by Landlord to a public utility, agency, or authority under threat of a taking under the power of eminent domain in lieu of formal proceedings shall be deemed a taking within the meaning of this Article 9. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |