To HAVE and to HOLD Same Unto Grantee, and Unto Grantees Heirs and Assigns Forever, Form
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People also ask
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What does its successors and assigns mean?
1.10 SUCCESSORS AND ASSIGNS. For purposes of this Agreement, "Successors and Assigns" shall mean a corporation or other entity acquiring all or substantially all the assets and business of the Company (including this Agreement) whether by operation of law or otherwise.
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What does "to have and to hold" mean in a deed?
A quick definition of have and hold: Have and hold: A phrase used in legal documents, like deeds or wills, to describe the extent of the interest being granted and any conditions affecting the grant. It is also used in oil and gas leases to define how long the interest granted to the lessee will extend.
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What does assign mean in a will?
A person who has a vested — legally enforceable — interest in a decedent's estate can “assign” – i.e., transfer – part or all of their interest to another. Generally, an inheritance vests upon the decedent's death.
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What does heirs or assigns mean?
Heirs are individuals who are legally entitled to inherit from person A if person A dies leaving no valid last will and testament. Assigns are someone to whom a person has signed a document giving or assigning their property to another person.
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What is binding on heirs and assigns?
The successors and assigns clause, sometimes referred to as the inurement (or enurement) clause, states that the agreement is for the benefit of, and can be enforced by, the successors, permitted assigns, and, sometimes, heirs of the parties or other designated third parties.
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What does "heirs and assigns forever" mean?
It means it asses completely to the kids, and if the kids are also passed, or do not want it and give it to someone else, to those people also in the kids' places. You are an heir to your mother, for example. If you didn't want the share you got, you could assign it to you child, or to a creditor even.
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What is the to have and hold clause?
A to-have-and-to-hold clause, also known as a habendum clause, is a part of a legal document, such as a deed or will, that defines the extent of the interest being granted and any conditions affecting the grant. The clause usually begins with the words "to have and to hold."
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What does heirs and assigns forever mean in real estate?
Words usually found in a deed, showing the interest the grantee is receiving. A deed to "A, his heirs and assigns", would grant the property to A, with the right to assign said property or have it descend to A's heirs upon A's death. This would be considered a fee interest (estate).
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