North Dakota Further Assurances is a legal term used in the state of North Dakota to describe a set of provisions that are included in contracts or agreements to ensure the smooth and complete execution of said contracts. These provisions aim to provide additional assurances to the parties involved that all necessary actions, documents, and instruments will be taken or provided to fulfill the obligations and commitments outlined in the agreement. The purpose of North Dakota Further Assurances is to eliminate any uncertainties or gaps that may arise during the fulfillment of contractual obligations. It ensures that both parties have the obligation to take any necessary steps and provide any additional documentation or support to resolve any potential issues that may hinder the successful completion of the agreement. Some common types of North Dakota Further Assurances include: 1. Documentation and Record-Keeping: This type ensures that all parties involved in the contract will maintain accurate records and documentation related to the agreement. It aims to guarantee that all necessary paperwork, such as licenses, permits, certificates, or any other legal requirements, are obtained and kept up to date. 2. Cooperation and Collaboration: This provision requires the parties to collaborate and cooperate in good faith to fulfill the obligations of the contract. It ensures that they will work together, sharing information, and making necessary arrangements to achieve the objectives stated in the agreement. 3. Title and Ownership: This type of further assurance is particularly relevant when dealing with the transfer of assets, properties, or intellectual property rights. It reinforces that the parties will take all necessary actions to transfer titles, warranties, and ownership rights in accordance with the terms of the contract. 4. Financial Obligations: This provision ensures that all financial obligations stated in the contract, such as payments, reimbursements, or royalties, will be fulfilled promptly and accurately. It guarantees that the necessary financial resources will be made available to honor these commitments. 5. Legal Compliance: This type of North Dakota Further Assurances requires all parties to comply with applicable laws, regulations, or permits related to the execution of the contract. It assures that each party will obtain any necessary approvals, permits, or licenses to ensure legal compliance throughout the agreement. In summary, North Dakota Further Assurances are comprehensive provisions that are included in contracts or agreements to ensure the smooth implementation and completion of obligations. By encompassing various aspects such as documentation, cooperation, title transfer, financial obligations, and legal compliance, these provisions provide a comprehensive framework for the successful execution of contracts in North Dakota.
North Dakota Further Assurances
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How to fill out North Dakota Further Assurances?
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FAQ
A North Dakota property owner may transfer or retitle real estate during the owner's life using a signed, written deed. A North Dakota deed must satisfy the legal requirements described below to be eligible for recording and to legally transfer title to the new owner.
A covenant of further assurances is the related promise that the grantor will do whatever is necessary to remove a defect associated with title, such as an encumbrance, if it arises, and if the problem is not fixed, damages will be awarded. The express promise of doing whatever is necessary is a huge promise.
Quiet enjoyment refers to the right of a tenant to peacefully enjoy its premises without interference from a landlord. The case London Prestige Ltd v Wellington Harlech Centre Inc.,1 outlines the current test for quiet enjoyment.
The three future covenants embodied within a general warranty deed are the covenants of quiet enjoyment, warranty and further assurances. Future covenants run with the land and can be enforced by remote grantees.
Real property defined. Real or immovable property consists of: 1. Land; 2. That which is affixed to land, including manufactured homes as defined in section 41-09-02 with respect to which the requirements of subsection 6 of section 47-10-27 have been satisfied; 3. That which is incidental or appurtenant to land; and 4.
After-acquired title. When a person purports by proper instrument to convey real property in fee simple and subsequently acquires any title or claim of title to the real property, the real property passes by operation of law to the person to whom the property was conveyed or that person's successor.
Future covenants are the covenants of further assurance, quiet enjoyment, and warranty. They are called future because they can be breached in the future after the deed is delivered. Future covenants are transferable and run with the land.
An example would be if a buyer entered a covenant of seisin with a property owner only to find that their assets were being seized as part of a bankruptcy proceeding. In that case, the land or home that the buyer purchased would be considered part of the grantor's assets.
