Agreement Not to Transfer or Encumber

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Standard Exception Topic

AGN


Agreement Not to Transfer or Encumber

Sometimes a lender will secure a recorded agreement from a borrower not to sell. Because of possible claim that the agreement is an encumbrance, you must except to this Agreement.

Exceptions

Standard Exception Subtopic

AGNX01

STG

12/01/1995
V 1

Exception Not to Transfer or Encumber

The lien or rights, if any, of the instrument recorded __________, given in connection with debt to _____________, which instrument provides that the land cannot be transferred or encumbered until the debt is paid in full.
Comment: Sometimes a lender will secure a recorded agreement not to sell from a borrower, instead of a mortgage. Because of a possible claim that the agreement is an encumbrance, you must except to this Agreement.