QUESTION
Does a Land Deed supersede the original purchase agreement.
Asked on Jul 16th, 2024 on Real Estate - Michigan
More details to this question:
I own a piece of property purchased from a neighbor. In the original purchase agreement there were some stipulations like I could not build on the property. It was not put in the deed we both signed though. Is the purchase agreement still binding or is the deed along the binding document?
1 ANSWER
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Great question.
The language on the deed is controlling BUT depending on what the PA says, and when it was signed, you might still have a breach of contract issue.
What is certain is 15 years after the purchase, by virtue of adverse possession, they would have no claim.
A court might see a claim in equity but courts would have to see a great wrong against the other side. You paid them for the property, it was their job to make sure the deed was right.
What is certain is that: if you do something that is not permitted in the PA, the seller will either react or let it go.
So: be careful.
Answered on Jul 19th, 2024 at 9:19 AM