PURCHASE RECEIPTS Successful bidders at the sale will be issued a receipt for their purchases upon payment.
TITLE CONVEYANCE A Quit Claim deed pursuant to 1999 PA 123, conveying fee simple title and, drafted with the name(s) as entered on the registration, will be recorded by the Ingham County Treasurer’s Office with the Ingham County Register of Deeds’ Office within 14 days from the date of final p ayment of all amounts required under these Rules and Regulations. Quit Claim deeds will only be issued after the purchaser has provided proof of payment of current taxes. The Treasurer will request the Register of Deeds to send the recorded deed to the purchaser.
It is the purchaser’s responsibility to contact the assessor and treasurer of the city, township, or village in which the pro perty is located and file a “Property Transfer Affidavit” (PTA). The Local Assessor can and may issue a fee for PTAs not filed in a timely manner.
Title insurance companies MAY OR MAY NOT issue title insurance on properties purchased at the sale. The Treasurer makes no representation as to the availability of title insurance. The unavailability of title insurance is not grounds for re-conveyance to the Treasurer . Purchaser may incur legal costs for a quiet title action to satisfy the requirements of title insurance companies in order to obtain title insurance. These legal costs are solely the responsibility of the purchaser.
RESTRICTIVE COVENANTS Certain commercially zoned parcels will also contain and be subject to the following reverter clause:
The following right of reverter running with the land: If the purchaser(s) fail to occupy the Property for commercial purposes within twelve (12) months from the date hereof, then the property shall automatically revert to Grantor in fee simple title. Examples of commercial occupancy may include, but are not limited to registration with the State of Michigan, department of Licensing and Regulatory Affairs, and associated Federal Employer Identification number, signage, or posted business hours.
Some parcels available for auction may be subject to an Owner Occupancy Covenant (“OOC”). The OOC will contain as a conditio n of the sale the Buyer agrees and hereby affirms and declares that
A.) the Property shall not be at any time a rental property that is subject to regulation under the Codified Ordinances of the applicable local unit of government as amended from time to time, B.) this restriction is an encumbrance on the Property, runs with the Property, and is binding upon the Owner and the Owner's heirs, successors, assigns, and transferees,
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