AGNX01 STGC
Exception Not to Transfer or Encumber
The lien or rights, if any, of the instrument recorded __________, given in connection with debt to _____________, which instrument provides that the land cannot be transferred or encumbered until the debt is paid in full.
Comment: Sometimes a lender will secure a recorded agreement not to sell from a borrower, instead of a mortgage. Because of a possible claim that the agreement is an encumbrance, you must except to this Agreement.
Comment: Sometimes a lender will secure a recorded agreement not to sell from a borrower, instead of a mortgage. Because of a possible claim that the agreement is an encumbrance, you must except to this Agreement.
References
Related Underwriting Manuals:
1.40 Agreements Not To Transfer Or Encumber
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