Monetary Encumbrances Clause Examples

Monetary Encumbrances. Mortgages, deeds of trust, security instruments, liens, judgments, or other monetary encumbrances against the Property, excepting those arising through Buyer.

Monetary Encumbrances. All monetary encumbrances, or ancillary documentation thereof, shall be automatically determined to be a disapproved exception that shall be removed by Seller at Seller’s sole cost as a condition to Closing.

Monetary Encumbrances. The property is transferred free of monetary encumbrances. The property is transferred free of monetary encumbrances, with the exception of the following mortgage deeds: ……………………………………………….. ……………………………………………….. Any monetary encumbrances which shall not remain on the property shall be deregistered for the account of the seller. The estate agent is authorised to obtain statements of outstanding debt and deregistration confirmations from the mortgagees in respect of the mortgages to be deregistered in connection with the closing. The seller confirms that there exist no monetary encumbrances of any type, including liens, apart from those shown in the transcript from the Register of Land Titles and Land Charges. The seller undertakes to immediately inform the estate agent if any lien proceedings are conducted prior to registration of the title deed. The seller also undertakes to pay all taxes, duties and fees, etc., relating to the property which have fallen due or will fall due prior to closing. The seller hereby irrevocably authorises the estate agent to discharge any monetary encumbrances which are set out in the certified transcript from the Register of Land Titles and Land Charges/closing specification and which it has not been agreed to pass on to the purchaser. The property is sold “as is” as at the time of the purchaser’s inspection, cf. Section 3-9 of the Sale of Real Estate Act. This implies that the provisions of the Sale of Real Estate Act pertaining to defects in the property are derogated from to the detriment of the purchaser. The property shall nonetheless be held to suffer a defect in the following circumstances: If the seller fails to perform his or her specific obligations under the present agreement. If the purchaser has not received information concerning matters relating to the property, of which the seller was aware or ought to have been aware, and which the purchaser had reason to expect that he or she would receive. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the agreement, cf. Section 3-7 of the Sale of Real Estate Act. If the seller has provided incorrect information concerning the property. The same shall apply if the property is not in conformity with information provided in any advertisement, sales prospectus or other marketing on behalf of the seller. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the...

Monetary Encumbrances. The phrase “monetary encumbrances or defects” as used herein means encumbrances or defects to title which by their terms require the payment of money, whether in installments or at a fixed time or otherwise, including, but not limited to, mortgages, deeds of trust, mechanic’s or materialmen’s liens, liens associated with public improvement districts and special assessments.

Monetary Encumbrances. Seller shall cause all Monetary Encumbrances reported in Buyer's Title Objection Notices to be discharged, terminated or otherwise removed from the Property before or at the Closing.

Monetary Encumbrances. Property must be conveyed free and clear of all taxes, except the general taxes for the year 342 of closing. All monetary encumbrances (such as mortgages, deeds of trust, liens, financing statements) must be paid by Xxxxxx and 343 released except as Seller and buyer may otherwise agree. Existing monetary encumbrances are as follows:

Monetary Encumbrances. Buyer shall not be required to object to, and Xxxxxx hereby agrees to remove, any exceptions to title arising out of financial or monetary encumbrances such as deeds of trust, liens, judgments, mortgages and past due taxes and assessments.

Monetary Encumbrances. With respect to any Title Matter which is a mortgage or similar encumbrance created voluntarily by Seller or Seller's predecessors in title which secures solely the payment of a stated indebtedness (each a "Monetary Encumbrance"), Seller shall notify Buyer within twenty (20) days after receipt of such Title Objection Notice, either (i) that Seller has paid the amount necessary to remove the same from the record title to the Property and will, on or prior to the Closing Date, obtain recordable instruments or other documentation sufficient to cause the Title Company, for no additional premium, either to delete such matters from an owner's title insurance policy to be issued to Buyer at standard rates or to affirmatively insure Buyer in such owner's title insurance policy (in form and substance acceptable to Buyer) against loss arising out of the enforcement or attempted enforcement of such Monetary Encumbrances, or (ii) that Seller agrees to pay on the Closing Date the sum required to remove the same from the record title out of the Purchase Price to be received at Closing, pursuant to arrangements reasonably acceptable to Seller and Buyer, and will on the Closing date obtain recordable instruments or other documentation sufficient to cause the Title Company, for no additional premium, either to delete such matters from an owner's title insurance policy against loss arising out of the enforcement or attempted enforcement of such Monetary Encumbrances; or

Monetary Encumbrances. Seller agrees to convey title to the Property to Buyer at Close of Escrow free and clear of all monetary liens and encumbrances.