Holder of an environmental covenant--department bound bycovenant--rules for interests in real property.
260.1006. 1. Any person, including a person that owns an interest inthe real property, the department, or a municipality or other unit of localgovernment, may be a holder. An environmental covenant may identify morethan one holder. The interest of a holder is an interest in real property.
2. The rights of a department under sections 260.1000 to 260.1039 orunder an environmental covenant, other than a right as a holder, is not aninterest in real property.
3. A department is bound by any obligation it assumes in anenvironmental covenant, but a department does not assume obligations merelyby signing an environmental covenant. Any other person that signs anenvironmental covenant is bound by the obligations the person assumes inthe covenant, but signing the covenant does not change obligations, rights,or protections granted or imposed under law other than sections 260.1000 to260.1039 except as provided in the covenant.
4. The following rules apply to interests in real property inexistence at the time an environmental covenant is created or amended:
(1) An interest that has priority under other law is not affected byan environmental covenant unless the person that owns the interestsubordinates that interest to the covenant;
(2) Sections 260.1000 to 260.1039 do not require a person that owns aprior interest to subordinate that interest to an environmental covenant orto agree to be bound by the covenant;
(3) A subordination agreement may be contained in an environmentalcovenant covering real property or in a separate record. If theenvironmental covenant covers commonly owned property in a common interestcommunity, the record may be signed by any person authorized by thegoverning board of the owners association;
(4) An agreement by a person to subordinate a prior interest to anenvironmental covenant affects the priority of that person's interest butshall not by itself impose any affirmative obligation on the person withrespect to the environmental covenant.
Holder of an environmental covenant--department bound bycovenant--rules for interests in real property.
260.1006. 1. Any person, including a person that owns an interest inthe real property, the department, or a municipality or other unit of localgovernment, may be a holder. An environmental covenant may identify morethan one holder. The interest of a holder is an interest in real property.
2. The rights of a department under sections 260.1000 to 260.1039 orunder an environmental covenant, other than a right as a holder, is not aninterest in real property.
3. A department is bound by any obligation it assumes in anenvironmental covenant, but a department does not assume obligations merelyby signing an environmental covenant. Any other person that signs anenvironmental covenant is bound by the obligations the person assumes inthe covenant, but signing the covenant does not change obligations, rights,or protections granted or imposed under law other than sections 260.1000 to260.1039 except as provided in the covenant.
4. The following rules apply to interests in real property inexistence at the time an environmental covenant is created or amended:
(1) An interest that has priority under other law is not affected byan environmental covenant unless the person that owns the interestsubordinates that interest to the covenant;
(2) Sections 260.1000 to 260.1039 do not require a person that owns aprior interest to subordinate that interest to an environmental covenant orto agree to be bound by the covenant;
(3) A subordination agreement may be contained in an environmentalcovenant covering real property or in a separate record. If theenvironmental covenant covers commonly owned property in a common interestcommunity, the record may be signed by any person authorized by thegoverning board of the owners association;
(4) An agreement by a person to subordinate a prior interest to anenvironmental covenant affects the priority of that person's interest butshall not by itself impose any affirmative obligation on the person withrespect to the environmental covenant.
Holder of an environmental covenant--department bound bycovenant--rules for interests in real property.
260.1006. 1. Any person, including a person that owns an interest inthe real property, the department, or a municipality or other unit of localgovernment, may be a holder. An environmental covenant may identify morethan one holder. The interest of a holder is an interest in real property.
2. The rights of a department under sections 260.1000 to 260.1039 orunder an environmental covenant, other than a right as a holder, is not aninterest in real property.
3. A department is bound by any obligation it assumes in anenvironmental covenant, but a department does not assume obligations merelyby signing an environmental covenant. Any other person that signs anenvironmental covenant is bound by the obligations the person assumes inthe covenant, but signing the covenant does not change obligations, rights,or protections granted or imposed under law other than sections 260.1000 to260.1039 except as provided in the covenant.
4. The following rules apply to interests in real property inexistence at the time an environmental covenant is created or amended:
(1) An interest that has priority under other law is not affected byan environmental covenant unless the person that owns the interestsubordinates that interest to the covenant;
(2) Sections 260.1000 to 260.1039 do not require a person that owns aprior interest to subordinate that interest to an environmental covenant orto agree to be bound by the covenant;
(3) A subordination agreement may be contained in an environmentalcovenant covering real property or in a separate record. If theenvironmental covenant covers commonly owned property in a common interestcommunity, the record may be signed by any person authorized by thegoverning board of the owners association;
(4) An agreement by a person to subordinate a prior interest to anenvironmental covenant affects the priority of that person's interest butshall not by itself impose any affirmative obligation on the person withrespect to the environmental covenant.
