GaryM15 (North Carolina)
Posts: 63
Posts: 63
Posted:
Our covenants have this statement.
TERM. These covenants are to run with the land and shall be binding on all parties and all persons claiming under them for a period of twenty-five (25)
years from the date these covenants are recorded,
after which time said covenants shall be automatically extended for successive periods of ten (10) years
unless an instrument signed by a majority of the then owners of the lots has been recorded, agreeing to change said covenants in whole or in part.
The covenants were originally filed on May 10th, 1985, and no changes have been made since then..
Since no instrument agreeing to change was recorded prior to May 10th, 2010, I believe that these covenants were automatically extended until May 10th, 2020.
If the association agrees to change the covenants, the changes must be approved, and recorded prior to May 10th, 2020, and become effective on May 10th, 2020.
Does anyone have a different interpretation? If there is a different interpretation, then why wasn't it written differently.
TERM. These covenants are to run with the land and shall be binding on all parties and all persons claiming under them for a period of twenty-five (25)
years from the date these covenants are recorded,
after which time said covenants shall be automatically extended for successive periods of ten (10) years
unless an instrument signed by a majority of the then owners of the lots has been recorded, agreeing to change said covenants in whole or in part.
The covenants were originally filed on May 10th, 1985, and no changes have been made since then..
Since no instrument agreeing to change was recorded prior to May 10th, 2010, I believe that these covenants were automatically extended until May 10th, 2020.
If the association agrees to change the covenants, the changes must be approved, and recorded prior to May 10th, 2020, and become effective on May 10th, 2020.
Does anyone have a different interpretation? If there is a different interpretation, then why wasn't it written differently.