Notarial Tie Agreement

The usual operational clauses of tie agreements or conditions are drawn in the following directions: if only one of the notarized real estate is sold in execution or by the agent of an insolvent person, the contract must be terminated before or at the same time as the transfer; Alternatively, the two properties must be transferred together. Real estate cannot be treated separately, whether it is a forced sale or not. When two lands are consolidated and the constituent elements are subject to a notarized tie agreement, the condition of the consolidated title certificate must be immortalized and the Registrar of Deeds confirms the certificate relating to the consolidated title relating to the expiry of the condition. However, the executor of the condition of commitment must consent to the issuance of the consolidated certificate of ownership and the expiry of the tie agreement (see RCR 21 of 2008). As the name suggests, a notary agreement on ties (“tie agreement”) is an agreement executed by at least two parties when a condition is recorded against the title to two or more properties that prevent the sale, pawning or independent treatment of real estate. The idea is that properties are considered a property for all intentions and purposes. With respect to CPR 44 of 2010, it is not permitted to register a notarized lease and tie for a long-term lease and real estate, so that the property and lease cannot be treated separately. The properties already mentioned must not be owned by the same owner and may be located in different real estate registers, administrative districts, provinces, etc. On the other hand, the notarized commitment of two properties is made through a notarized tie agreement under Section 65 of the Act. A notarized tie agreement is signed in front of a notary by the owner (s) of the notary who is notarized and by the person who enforces the tie agreement. The executor could be the local authority, the bank or any individual or legal person who would benefit from the related real estate. The notarized tie contract is then filed and registered with the Registration Office. If an owner or owner wishing to commit his real estate must enter into a notarial agreement with the person responsible for the execution of such a notary tie contract, it is usually the local authority.