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restrictions added after a fiduciary deed is recorded

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Sue Williams Guest	Posted: Mon Sep 26, 2011 7:26 pm    Post subject: restrictions added after a fiduciary deed is recorded Like 0 Dislike 0 I was deeded my grandparents property after their death. I was told that the only restriction would be no mortgage on the property for 5 years. The deed was recorded but the restriction page wasn't. (deed does show 2nd page as restriction but 2nd page never recorded). I've asked for the restrictions and have failed to get them. Aunt now says lawyer drew them up 3 years later) and I would get copy. 1 year later still no copy. Is it legal to add restrictions after the recording of fiduciary deed? Even 3-4 years after? I am afraid to put more money into the house for updates etc because I am not sure of restrictions. Can the house be transfered to someone else at any time if I am unaware of restrictions??? Can it go to grantors choice of new owner upon my death or is that choice mine? What is legal about this? The property is in Michigan. There are many things Iwould like to do to fix this house up but I am not sure if I should invest in it anymore than the 25,000.00 I have put up already. Thank you
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Mon Sep 26, 2011 8:01 pm    Post subject: Like 0 Dislike 0 Hi Sue! At common law, a deed was an instrument under seal that contained a covenant or contract delivered by the individual who was to be bound by it to the party to whom it was granted. It is no longer required that such an instrument be sealed. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Tue Sep 27, 2011 7:48 pm    Post subject: Like 0 Dislike 0 Welcome Sue, As far as I know, restrictions cannot be added to the deed once it has been recorded. Once the property is in your name, you will be considered as the owner of the property. No one can transfer the property to anyone else. It will depend upon you as to whom you would transfer the property to. _________________ Procrastination is the enemy of your financial success
raymond Community Expert Joined: 03 Jul 2009 Posts: 1191 Location: Irvine, California 28.24 Dollars($)	Posted: Wed Sep 28, 2011 6:35 am    Post subject: Like 0 Dislike 0 >>Is it legal to add restrictions after the recording of fiduciary deed? No. >>Can the house be transfered to someone else at any time if I am unaware of restrictions? No - not as long as you're the only one on Title. _________________ Raymond Denton www.RaymondDenton.com

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